Sales tax

Nearly half of all states impose taxes on memberships in gyms, health clubs, athletic clubs and fitness clubs, while the rest either exempt memberships or don’t have state sales taxes at all, according to new research.

New York City’s Museum of Sex hasn’t paid any sales taxes for four years and is now facing an $82,192 tax lien from state tax authorities.

The U.S. House of Representatives voted to let taxpayers deduct state sales taxes on their federal returns, a victory for residents of Texas, Florida and other states that lack an income tax.

Consumer demand is not affected as much by sales taxes that are tacked onto purchase prices, as opposed to excise taxes that are included in the purchase price, according to a new study.

Accountants see their small and midsize business clients making plenty of mistakes once tax season rolls around, but tax season may be too late to warn them.

Tax reform, if it happens in the next two years, will occur in incremental steps rather than as a comprehensive package.

Each New Year brings with it issues and regulations—both new and revisited—that cause accountants and their small business clients to scramble in order to remain compliant with the law.

The Senate has re-introduced a bipartisan bill aimed at making it easier for states to collect sales taxes on online purchases.