State Tax Concerns for Canadian Businesses Selling in U.S.
Many Canadian companies have considered expanding their businesses across the border into the United States over the years but have hesitated due to the relatively weak value of the Canadian dollar. Times have changed, however, and the weakening of the U.S. dollar has prompted many Canadian companies to reconsider expanding into the United States. After […]
Tax Credits & Incentives
The federal government, as well as states, use tax credits, deductions and incentives to encourage investment, boost employment and stimulate innovation. No matter if your company is new, growing or well established there are a variety of tax credits and incentives available that you may be eligible for. Understanding whether your business is a candidate […]
Saving Energy and Taxes on Utilities
Whether your business uses electricity, natural gas or other energy sources, one thing is certain: the cost of these commodities is a considerable part of your operating expenses. Today, most businesses are striving to be more energy-efficient and are considering “green” energy initiatives in order to save money on energy costs and utility services. The need […]
Sales Tax Refund Opportunities
Paying the correct amount of sales and use tax is a critical issue for many businesses. Companies do not want to create potential liabilities by not collecting tax on sales; but at the same time, these businesses should also be concerned that they are not overpaying or remitting too much sales and use tax on their […]
Managing Sales Tax Audits (1 of 3)
Pre-Audit Planning States are stepping up their audit efforts to identify new taxpayers, create additional tax revenue and close their budget gaps. If you start preparing for a sales & use tax audit the day the audit notification letter arrives from the state taxing authorities, then you are already behind the eight ball. Preparing for […]
Managing Sales Tax Audits (2 of 3)
The Audit Process Despite all of your pre-audit planning – or your best efforts to postpone the audit – eventually the time will come for the audit to begin. Start building a good working relationship with the auditors on the very first day of the audit. This starts with the opening conference. Opening conference At […]
Managing Sales Tax Audits (3 of 3)
Post-Audit Proceedings Your company’s sales & use tax audit has been completed. You’ve worked diligently to provide the auditors the information they requested; you’ve responded to questions and provided additional supporting documentation; you’ve countered the auditor’s position, attempted to settle issues and did everything in your power to resolve the audit in a timely and […]
Resale & Exemption Certificates
Does your company have a policy for maintaining exempt sale documentation? When is the last time anyone has reviewed your company’s resale and exempt sale documentation? Most taxpayers look at their exempt sale documentation the week before the sales tax auditor is scheduled to arrive. The usual finding is the documentation is woefully inadequate. Common […]
Amazon to Collect Sales Tax in All States
The days of tax free shopping on Amazon.com have come to an end for U.S. shoppers. The leading internet retailer started collecting sales tax in Iowa, Louisiana, Nebraska and Utah on January 1, 2017 then subsequently began collecting tax in Mississippi, Missouri, Rhode Island, South Dakota and Vermont on February 1st, then in Arkansas, Oklahoma […]
ACA Still in Effect Despite Recent Federal Court Ruling
On Friday, December 14, 2018, Texas-based U.S.Federal Court judge Reed O’Connor ruled that the Affordable Care Act (ACA), also known as Obamacare, is unconstitutional. How did this come about? This decision was the result of a lawsuit brought by Republican officials in 20 states. The judge’s decision reads, in part: “The court finds the individual […]