SULLIVAN & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS

 

PAUL F. SULLIVAN, CPA                                                                                               

RAJ GOENKA, CPA
MONIKA BENKOVIC, CPA                                                                                              

 

 

August 1, 2019
 

MEMO


 

To:

Our Clients

 

 

 

 

 

 

 

From:

Paul F. Sullivan, CPA

 

 

Raj Goenka, CPA

 

 

Radka Windt, Business Services Manager

 

 

 

 

 

 

 

RE:

Sales Tax and Use Tax - New Rules

 

 

 

 

 

 



We are sending you this memo to inform you of the new rules and regulations regarding sales and use tax filing.

In 2018, the US Supreme Court in South Dakota v. Wayfair overturned the established physical presence rules for businesses to determine if they needed to register, collect, and pay sales tax in an individual state. If your business has a website and engages in internet-based out-of-state sales, you could be exposed to new laws passed by over 35 states requiring you to register, collect, and pay sales tax in that state.

Most states have passed laws stating that a seller without a physical location in the state must register, collect and remit applicable sales tax if either or both of the following conditions are met in the current calendar year or the preceding calendar year:

1. You have gross revenue from sales into the state exceeding $100,000; or
2. You have 200 or more separate transactions into the state.

We do not monitor sales volumes or the number of transactions by state. However, we can assist you with registering in the state and filing sales tax returns on your behalf if you contact us. It is important if you have a website selling products or services, or you offer sales across state lines, that you familiarize yourself with the sales and use tax rules and protect your company.

If you would like our assistance in registering your business for a sales and use tax account in another state or filing sales and use tax returns for your company, please contact our office.

 

   

 

     
     

4709 MONTGOMERY LANE, SUITE 201, BETHESDA, MD 20814 TEL (301) 657-8080 FAX (301) 657-9055
MEMBER AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

 

 


 



4709 Montgomery Lane | Bethesda, MD 20814

Direct Dial (240) 316-3531 | Phone (301) 657-8080 Ext 102 | Fax (301) 657-9055
Website:
www.esullivan.net | E-mail: paul@esullivan.net
 

The opinions contained herein are not intended to be investment advice or a solicitation to buy or sell any securities. Information obtained from sources deemed to be reliable, but accuracy or completeness is not guaranteed. Past performance is not a guarantee of future results. Performance figures contained herin do not represent actual client portfolios or results. Actual results may significantly differ from the model portfolio returns presented. Archer Investment Corporation manages the Archer Funds. You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Funds before investing. The investment return and principle value of an investment in the Funds will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the prospectus by calling 800-581-1780.
 

Sullivan & Company | Certified Public Accountants | 4709 Montgomery Lane #201 | Bethesda, MD, 20814 | 301-657-8080