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Sales tax FAQ: “How long do we need to collect and remit sales tax after we stop having nexus in the state?” https://bit.ly/3fLPRaM

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. https://hubs.la/Q02lcYcP0

Let's understand USA taxation and explore three key aspects that every Amazon seller should understand. ?1. Sales tax: A consumption tax levied on the sale of goods and services is known as a sales tax. It's critical to understand the regulations in your area regarding sales tax rates and applications, as they differ by state and locality. It is essential for Amazon sellers to be aware of their sales tax responsibilities in order to maintain compliance and stay out of trouble. 2. Resale Certificate: Also known as a resale licence or seller's permit. It is provided state where your business is registered, and you fill out your business information to make sure that you are not the final consumer of the goods but a reseller of them. To get this certificate, you have to apply through your state's department of revenue or taxation.?You can purchase products at wholesale pricing and pass the savings along to your clients if you have a resale certificate. 3. Employer Identification Number (EIN): For the purpose of paying taxes, the IRS assigns businesses a unique nine-digit number known as an Employer Identification Number (EIN). It functions similarly to a social security number for your company. If you are an Amazon seller with workers, run your business as a company or partnership, or need to file specific tax returns, including those for excise taxes, you will require an EIN.

Tracking the sales tax obligations of online orders is a tricky balancing act. When ordering something online, where is the order technically "received?" And where is that sales tax due? Texas just added some clarity with this new rule- read more here! #TX #Texas #SalesTax #AccountingTips #Accounting

Sales tax is collected at the point of sale when a taxable item or service is purchased. It is typically required for physical goods, digital products, and certain services, depending on state and local regulations. #sales #tax #POS #goods #services #taxableitem

When selling or buying a business, #salestax liability has become a critical issue, especially after the 2018 South Dakota v. Wayfair Supreme Court decision expanded sales tax requirements for online sellers. Sales tax transfers from seller to buyer, so both parties need to understand any liability before closing a deal. As the seller, being out of compliance on sales tax can derail a sale or lead to major deductions in the sale price. As the buyer, you take on any existing sales tax liability. And since sales tax can be assessed personally against a business owner, it’s crucial to uncover issues during due diligence. Get the facts about sales tax before making a big move. https://lnkd.in/ePxZthsJ

As an online seller, you must also contend with returns when filing sales tax. Here's how to manage returns and sales tax. https://bit.ly/4g00NvY

Understanding the intricacies of US marketplace facilitator sales tax laws is crucial for any business operating in the digital space. With each state having its own set of regulations, compliance can seem like a daunting task. Our comprehensive guide demystifies these laws, providing clear insights into what your business needs to do to stay compliant. From defining marketplace facilitators to outlining their responsibilities, we cover everything to ensure you're well-prepared to navigate these complexities. Stay ahead of the curve and ensure your business operations are fully compliant with the latest sales tax laws. ??

Knowing when to collect sales tax on out-of-state sales can be tricky. Here are some helpful tips. Essential Software Solutions Avalara

New tax obligations, particularly for online retailers and out-of-state sellers. One of the lesser-known yet critical tools in the compliance process is the XYZ letter—a formal communication sent by vendors to customers, seeking clarification on sales tax for past transactions. These letters have become a vital element in ensuring businesses meet their sales tax responsibilities, but many companies remain uncertain about how to handle them. This article takes a closer look at what XYZ letters are, why they matter, and how businesses can manage the compliance process effectively. As experts in sales tax compliance, Miles Consulting Group provides tailored solutions to help businesses both initiate and respond to these letters, minimize liabilities, and maintain strong vendor-customer relationships. #OnlineRetail #SalesTax #Compliance