Tax Law

Do Utah sales tax exemption certificates expire? Other states are different, so use these resources if you need to verify a resale certificate from another U.S. state. Keep the resale certificate for three years ? Utah law requires that you keep the resale certificate for 3 years after the non-taxable sale in the case of … Read more

Are churches exempt from paying sales tax in Louisiana? Yes, sales to churches and nonprofit organizations are subject to sales tax unless they are specifically exempted by statute. The designation of tax-exempt status by the IRS provides for an exemption only from income tax and in no way applies to sales tax. Read more on … Read more

What is the difference between form 2553 and 8832? The biggest difference between the two forms is the type of tax classification you request. Again, Form 8832 allows businesses to request to be taxed as a corporation, partnership, or sole proprietorship. However, Form 2553 is the form corporations and LLCs use to elect S Corp … Read more

Who is exempt from Delaware gross receipts tax? License and Gross Receipts Requirements. 003983) on the amount of income received from goods sold and services rendered in Delaware. The first $100,000 of fees received per month ($300,000 quarterly) is exempt from the gross receipts tax. Gross Receipts should be filed on-line or with a paper … Read more

Who is exempt from sales tax in Michigan? Michigan provides an exemption from use tax on items purchased for personal use that are purchased outside of this state and that is not an aircraft. For non-resident of this state, this exemption applies to property brought into this state more than 90 days after the time … Read more

Are 501c3 exempt from sales tax in Florida? Florida law grants certain nonprofit organizations that meet the criteria described in Section 212.08(7), Florida Statutes (F.S.), and certain state-chartered financial institutions described in Section 213.12(2), F.S., an exemption from Florida sales and use tax. Read more on floridarevenue.com Florida-based nonprofit organizations are frequently drawn to the … Read more

Does Georgia require a separate S election? Georgia recognizes the federal S election in cases where all corporation shareholders are Georgia residents. In such cases, a Georgia S corporation is not required to pay income tax to the state. (Note, however, that special rules, not covered here, apply if there are corporation shareholders who are … Read more

What is tax free Massachusetts? All sales of motor vehicles,[1] motorboats,[2] meals,[3] telecommunications services,[4] gas,[5] steam, electricity, tobacco products[6] and of any single item whose price is in excess of $2,500, do not qualify for the sales tax holiday exemption and remain subject to tax. Read more on www.bostoncentral.com There are still some options to … Read more

Does Utah require a resale certificate? The “”Resale or Re-lease”” section on the Utah Exemption Form TC-721 requires that they confirm this. If you buy products without paying sales tax using a resale certificate and then end up consuming them or not reselling them, you are required to pay sales tax on that purchase directly … Read more

Is property tax deductible in Massachusetts? Currently, all real estate taxes paid in Massachusetts are 100% tax deductible if you itemize your deductions. Read more on massrealestatelawblog.com Property tax is one of the largest costs for homeowners in Massachusetts. The good news is that your federal tax return can write off property taxes. However, there … Read more