Targeting gun safety in Tennessee and New York. As of November 1, 2023, gun safes and gun safety devices are exempt from sales tax in the state of Tennessee. But the Volunteer State isn’t the only state making changes to the taxability of firearms and firearm accessories — New York is considering adding new taxes on guns and ammunition.
No tax amnesty for Ohioans (this year). What does a state do when they want to collect more tax revenue? In the past, Ohio has offered tax amnesty: a period when the state reduces or waives penalties or interest for delinquent taxpayers who voluntarily step forward and pay the taxes they owe. But according to a recent State of Ohio Monthly Financial Report (which we read regularly, over coffee and buckeye candies) the state is doing just fine, tax revenue-wise.
Exciting news for parents in North Carolina. Hungry babies rejoice — starting November 1, 2023, your parents and caretakers can get breast pumps, collection and storage supplies, and other related items exempt from taxes. If you were wondering what the new taxability laws mean for retailers in North Carolina, we’ve got you covered.
Real exemptions on virtual currency? The Sunshine State sure loves a sales tax holiday, but the newest proposed sales tax holiday is pretty unusual. Senate Bill 352 and House Bill 369, if passed, would establish a virtual currency sales tax holiday in Florida. Sales made in virtual currency (cryptocurrencies like bitcoin, ethereum, or dogecoin) at certain types of businesses, including bars or nightclubs, barbershops, convenience stores, and grocery stores, would be exempt from sales tax.
’Tis the tax holiday season. Speaking of sales tax holidays, stay up to date on the latest tax exempt events across the United States. Learn about tax free days in Sitka, Alaska, a continuing gas tax holiday in Georgia, and a New Mexico small business Saturday tax holiday.
New month, new tax changes. The first of the month usually means new tax changes. Read up on the tax changes that take effect December 1, 2023.
Talkin’ turkey. As it turns out, the annual tradition where the president of the United States pardons a turkey at Thanksgiving creates a number of taxability scenarios for our feathered friends (or food). Where the turkeys are sold, whether they’re cooked at home or by professionals, or if they live out their days at a petting zoo affects how they’re taxed.
W-9 out of 10 accountants agree. It’s the first day at your new freelancing job, and before you can even read the style guide, you must fill out and submit tax paperwork. This post is for anyone who has ever wondered what a Form W-9 is for. And for those who are generally interested in IRS paperwork.
Small businesses in the Big Apple. A proposed bill in New York would establish a reduced sales tax rate for certain small businesses. This rate change — from 4% to 2.5% — could give qualifying small businesses a competitive edge over large businesses and nonresident businesses. Learn more about the small bill that’s making big waves.
