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The Internet of Things: What is It and How Should It Be Taxed?

One of the big themes we’ve seen in the world of sales and use tax over the last decade or so has been the emergence of new and never-before-seen industries, products and services and the attendant rush for states and tax professionals to figure out how exactly to tax them. It can be terribly frustrating for sellers, purchasers and tax practitioners to figure out

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Unclaimed Property: What Tax Professionals Need to Know

As someone who is responsible for handling sales tax, you may assume that unclaimed property doesn’t fall under your purview. This is a dangerous assumption, considering that your company may be expecting you to stay on top of unclaimed property reporting and compliance.

 

Unfortunately, you may not have received training on unclaimed property and don’t

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The 5 Keys to Saving Time and Money on Tax Research

With 47 states that each have their own unique laws governing sales and use taxes, keeping on top of your sales tax rules and requirements on a state-by-state basis is a daunting task even for seasoned sales tax professionals.

 

But conducting tax research is frequently handled by less senior employees in the tax department. And I’ve seen in many cases that senior

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New Tax Amnesty Opportunity for Online Sellers

It has been a crazy busy week here! The Multistate Tax Commission (MTC) just announced its Online Marketplace Seller Voluntary Disclosure Initiative. The initiative is a limited-time sales/use tax and income/franchise tax amnesty program for online sellers which will run from August 17 to November 1, 2017 (previously October 17, 2017). During this period, online sellers with potential tax

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Cook County Sweetened Beverage Tax – What’s so Hard about It???

As a Chicago and Cook County, IL resident, the sweetened beverage debate hits home for me.  I don’t drink much soda any more – but do enjoy other sweetened beverages – namely fruit juices.  And an occasional margarita.  And yes – these will be subject to the new tax.

 

A little history on the tax.  On November 10, 2016, the Cook County Board of

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