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Opinions and views from expert CFOZone members.

Tag >> sales tax
Nov 18
2010

Ten best and worst states for business taxes

Posted by annearf in taxessales taxincome taxcorporate taxcompliancebusiness taxes

annearf

Think the state taxes imposed on your company are too high? Or at least, steeper than in other places? A new report   ranking the best and worst state business tax climates can provide a clearer picture of how relatively onerous the situation is.

 The report, from the Tax Foundation, compares states on five separate aspects of their tax systems--property, corporate, individual income, sales, and unemployment insurance taxes--then adds the results up to a final, overall ranking. 

Aug 24
2010

Will online sales be taxed?

Posted by Karen1 in SSUTAsales tax, ecommerce

Karen1
In July, Rep. Bill Delahunt (D-Mass) introduced HR 5660, or the Main Street Fairness Act, which would give states the right to collect sales tax on online purchases. The rationale, as stated in the bill, is this: "As a matter of economic policy and basic fairness, similar sales transactions should be treated similarly, without regard to the manner in which sales are transacted."

To see how the law would work, it's necessary to go back to the Streamlined Sales and Use Tax Agreement (SSUTA), which was developed in 1999 by the National Governors Association and the National Conference of State Legislatures, with the goal of simplifying sales tax policies between states. To date, 23 states, representing about one-third of the country's population, have passed legislation that conforms with the SSUTA, according to the Streamlined Sales Tax Governing Board.



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