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Sales tax updates in North Carolina

Newly enacted laws in North Carolina could impact sales tax collection requirements for remote sellers, airlines, and professional motorsports teams. Each state has its own definition for “gross sales,” “retail sales,” and other terms. In some states, for example, retail sales include some or all exempt transactions, while in others, they don’t. It’s one of the many […]

It’s time to renew your Arizona TPT license

All businesses that have an Arizona Transaction Privilege Tax* (TPT) license must renew it by the end of the year because TPT licenses are valid for one calendar year only. Failure to renew the license by January 1, 2020, will lead to penalties, late fees, or both. The renewal requirement even applies to licenses that […]

Trump Administration Proposes Retaliatory Tariffs against France’s Digital Services Tax

This past summer France approved a digital services tax (DST) which taxes the revenues of certain digital companies at a 3 percent rate. Because the tax was expected to mainly impact U.S. companies, the U.S. Trade Representative (USTR) opened a Section 301 investigation into whether the tax was discriminatory against the U.S. The investigation report was released yesterday along […]

Taxing Santa Claus – Wacky Tax Wednesday

Everyone knows Santa lives in the North Pole. Not everyone knows he pays sales tax on most items when he shops in town, or that he can avoid sales tax by staying home and shopping online. Word is he’s a bit of a recluse, so I have him for an Amazon Prime member. But Santa’s […]

Avalara Chief Financial Officer Bill Ingram to Join Board of Directors and Ross Tenenbaum to Become Chief Financial Officer on March 31, 2020

SEATTLE, WA — December 4, 2019 — Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced that its chief financial officer (CFO), Bill Ingram, will retire March 31, 2020, and he will join the Board of Directors. Ingram will be succeeded as CFO by Ross Tennenbaum, Avalara’s […]

With strong holiday sales comes great responsibility

By all accounts, sales records were smashed over the Thanksgiving weekend. That’s great for bottom lines but could create new and ongoing sales tax collection requirements for some retailers. Thanksgiving Day sales exceeded $4 billion for the first time ever, Black Friday sales hit $7.4 billion, and Cyber Monday sales came in at a whopping $9.4 billion. (Cyber […]

Comparing Capital Gains Tax Proposals by 2020 Presidential Candidates

In less than two months, voters will cast their choice in the Iowa caucus to begin the process of selecting the next Democratic presidential candidate. The candidates currently in the top 3 polling positions—former Vice President Joe Biden, Senator Elizabeth Warren (D-MA), and Senator Bernie Sanders (I-VT)—have all proposed sweeping changes to the tax code, especially the taxation of capital gains and dividends. […]

Blending Considerations for Minimum Taxes on Foreign Income

The passage of the Tax Cuts and Jobs Act in late 2017 introduced a new set of provisions for U.S. taxation of foreign income. One of those provisions defines Global Intangible Low Tax Income (GILTI), which was designed to subject some foreign income of U.S. companies to a minimum tax rate. The adoption of GILTI has created interest […]

Cigarette Taxes and Cigarette Smuggling by State, 2017

Key Findings Excessive tax rates on cigarettes approach de facto prohibition in some states, inducing black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources. New York has the highest inbound smuggling activity, with an estimated 55.4 percent of cigarettes consumed in the state deriving from smuggled sources […]

Capital Gains Taxes in Europe

n many countries, investment income, such as dividends and capital gains, is taxed at a different rate than wage income. Today’s map focuses on how capital gains are taxed, showing how capital gains tax rates differ across European OECD countries. When a person realizes a capital gain—that is, sells a capital asset for a profit—they face a […]