Monthly Sales Tax Reminder Here!

Most states require monthly filings & are due around the 20th of each month.

Click here https://www.avalara.com/simplify/en/avatax/download-tax-rate-tables.html  to find out your specific states deadline (link to listing of all states & due dates). And don’t forget to send payment at the same time you are submitting your tax filing.

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Wonder why there have been so many changes to sale tax laws in the last year and a half?

Well on June 21, 2018, the Supreme Court of the United States ruled in favor of the state in South Dakota v. Wayfair, Inc. (an e-commerce site).

Now states can charge tax on purchases made from out of state sellers. Even if the seller does not have an actual brick and mortar in that particular state.

Since this hearing, most states have redefined their rules on what establishes a sales and use tax obligation, known as nexus.

Over 25 states have changed their requirements. Things like; how much or how often you sell to certain areas can affect how much sales tax your business needs to pay.

Unfortunately for businesses, no two-state sales tax nexus laws are alike.

If you are selling products and shipping to other states double check that you are charging and paying the correct amount of sales tax!  

For more information on sales taxes in different states, check out the links below!

 

Want more accounting tips and tricks or help in understanding your financials? Download our financial goal setting worksheet. 

 

Resource: https://www.avalara.com/us/en/learn/sales-tax/south-dakota-wayfair.html