Marketplace facilitators: Prepare to collect Michigan sales tax on third-party sales
Michigan has required certain remote sellers to collect and remit sales tax since October 1, 2018. Now it’s looking to codify that requirement and expand it to marketplace facilitators. Michigan Department of Treasury Revenue Administrative Bulletin 2018-16 requires businesses with no physical presence in the state to register with the tax department, collect and remit sales […]
American Catalog Mailers Association building case against Wayfair decision
The American Catalog Mailers Association (ACMA) is building a case against South Dakota v. Wayfair, Inc., the June 2018 decision by the Supreme Court of the United States that allows states to tax remote sales. If it can gather enough evidence, the ACMA will bring the case to Capitol Hill. In an email sent to retailers […]
Comparing Wealth Taxation and Income Taxes
The wealth tax has been pushed to the forefront of tax policy debates to combat wealth inequality. Presidential candidates Senator Elizabeth Warren (D-MA) and Senator Bernie Sanders (I-VT) both released proposals to tax the rich as part of their 2020 platforms. Senator Warren’s tax plan features a wealth tax rate of 2 percent each year on wealth over $50 million and […]
What’s on the Tax Policy Agenda at the EU
This month a new five-year term for the European Commission began. Now led by President Ursula von der Leyen, the Commission has a broad agenda including several tax policy proposals, many carried over from the previous Commission. These include policies that would change the taxation of large multinationals corporations, and digital services, and target carbon […]
Kansas Tax Modernization: A Framework for Stable, Fair, Pro-Growth Reform
Introduction Kansas achieved a history of tax reform success throughout the 19th and 20th centuries, as evidenced by the dramatic evolution of Kansas’ code over the state’s 158-year history. The result is the current tax code, constructed primarily upon a relatively balanced three-legged stool of property, sales, and income taxes. While the majority of Kansans we met […]
Economic nexus bill introduced in Missouri
Last year at this time, Missouri lawmakers introduced a couple of bills relating to remote sales tax. Both sought to implement economic nexus, requiring out-of-state vendors with a certain amount of sales in the state to collect and remit sales tax. And both would require marketplace facilitators to handle sales tax on behalf of their third-party […]
Corporate Tax Rates around the World, 2019
Key Findings In general, large industrialized nations tend to have higher statutory corporate income tax rates than developing countries. The worldwide average statutory corporate income tax rate, measured across 176 jurisdictions, is 24.18 percent. When weighted by GDP, the average statutory rate is 26.30 percent. Europe has the lowest regional average rate, at 20.27 percent […]
Avalara’s Annual Sales Tax Report Highlights Major Changes for Nexus and Marketplace Law in 2020
SEATTLE, WA — December 11, 2019 — Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today released its fifth annual sales tax changes report. Key findings in the report point to the continued impact of economic nexus laws, escalating tensions around marketplace facilitator laws, an increase in online […]
Ranking Property Taxes on the 2020 State Business Tax Climate Index
Today’s map shows states’ rankings on the property tax component of the 2020 State Business Tax Climate Index. The Index’s property tax component evaluates state and local taxes on real and personal property, net worth, and asset transfers. The property tax component accounts for 16.6 percent of each state’s overall Index score. Property taxes matter to businesses for several reasons. […]
Inflation Reduction Act potentially doubles R&D tax credit
The Inflation Reduction Act that President Biden signed into law this week has a lesser known provision that could benefit many small business startups, allowing them to potentially double the amount they can claim on the research and development tax credit from $250,000 to $500,000 per year against payroll taxes. Under current law small businesses […]