it's nice to know that all prescription medication purchases in Florida are exempt from state sales tax, as well as certain over-the-counter remedies used to treat, prevent or mitigate illness. These household remedies, whether or not they're prescribed by your physician, aren't taxable. Ite...
A business may also have a nexus based on the number of transactions or amount of sales derived from a particular state. Each state has its own rules defining an economic nexus. Businesses that purchase materials to make the product they sell are exempt from paying sales tax if they have a...
What are the advantages of sales tax? Sales tax provides a way for the state and local governments to raise revenue for the municipal budget. Sales tax revenue benefits the people of the jurisdiction through public schools, public safety, roads, and public libraries. ...
This is not a complete list, so keep in mind that some states may exempt other types of items. In addition, to avoid double taxation, many business-to-business purchases are tax-exempt. If a business purchases an item specifically to resell it, they can use a resale certificate to avoid...
Many recreational items are exempt from sales tax given certain threshold requirements are met. A list of exempt items can be found here. Back to School Holiday Status: Mandatory Inclusions: Certain school supplies selling for $50 or less per item; and clothing, footwear, and certain accessories...
NAR has proposed exempting first-time homebuyers and those from low- and moderate-income households from transfer taxes. New Jersey has reduced transfer tax rates for sellers of low- and moderate-income housing who are senior citizens, blind, or have disabilities. This reduced rate ranges from ...
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During a salestaxholiday, retailers who normally collect salestaxare exempt from doing so on eligible items. This exemption applies to purchases made in-store, online, by mail, or through other methods. Retailers are generally prohibited from collecting salestaxon qualifying sales during this peri...
For example, in Connecticut, “park employees [are] exempt due to not being a public agency by the law[’]s definitions.” How Do You Find Public Records? This is where some real detective work comes in. It is a learned skill to know how to narrow down a search so that you don’...
In many states, these items are subject to ad valorem taxes. How tangible personal property is taxed can vary considerably, not just by state but also by city. Some places rely heavily on this tax, whereas others have completely banned it or offer various exemptions....