Tax & Accounting Blog

United States Senate Passes Marketplace Fairness Act

United States Senate Passes Marketplace Fairness Act

On May 6, 2013, the United States Senate Passed the Reid amendments to S.743, the Marketplace Fairness Act,  on a bipartisan vote of 70-24.   The Marketplace Fairness Act imposes an obligation on out-of-state sellers to collect sales tax for companies with remote sales in excess of $1,000,000.  S.743, Section 2 (c).  Sellers who … Read More

Internet Sales Tax Bill Passes in U.S. Senate

Internet Sales Tax Bill Passes in U.S. Senate

On Monday, May 6th, 2013 the Senate voted 69-27 approving the collection of sales tax from retailers with no physical presence in a state. This bill will move to the House of Representatives for voting where if approved the President has indicated “he would sign it into law” . Source: http://www.pcworld.com/article/2038026/us-senate-approves-internet-sales-tax.htmlRead More

Missouri: Sales Tax Holiday for Energy Star Appliances

Missouri: Sales Tax Holiday for Energy Star Appliances

 Consumers across the state of Missouri will enjoy sales tax savings of at least 4.225 percent between April 19 through April 25, 2013 on qualifying “Energy Star-certified new appliances”. This sales tax holiday has been in effect since 2008 when it was passed by the Missouri General Assembly. View additional information on this sales tax … Read More

Colorado Springs Expands Tax Breaks to Attract Business

Colorado Springs Expands Tax Breaks to Attract Business

Colorado Springs’ Mayor, Steve Bach, has unveiled a new tax plan for the city featuring tax breaks for companies relocating to or expanding their operations within the city and “commercial aeronautical zone.” These breaks, which Bach called “economic vitality accommodations,” are only intended to be temporary changes to the city’s tax policy. The incentives include rebates for the city’s … Read More