Texas Sales Tax on Well Services: Practical Considerations
Texas Sales Tax on Well Services: Practical Considerations When navigating Texas tax obligations for oilfield operations, one of the most common challenges is determining how the state treats well-servicing activities for tax purposes. Although the standard Texas sales tax rate is 6.25%, local jurisdictions can push the combined rate to 8.25%.¹ Whether a transaction is […]
How to get a Texas sales tax bond
A Texas sales tax bond, formally known as a Continuous Bond of Seller, is a financial guarantee required by the Texas Comptroller of Public Accounts to ensure that a business will properly remit all sales taxes owed to the state and comply with applicable tax regulations. This bond is generally required for entities engaged in […]
States That Aggregate Related Entities When Determining Sales Tax Nexus
States That Aggregate Related Entities When Determining Sales Tax Nexus Some states apply economic nexus rules that require businesses to aggregate sales across related entities when determining whether they must register, collect, and remit sales tax. This approach prevents businesses from dividing revenue among multiple affiliated companies to stay below a state’s nexus threshold. California: […]
How does sales tax apply to cannabis marijuana
How does sales tax apply to cannabis marijuana How States Tax Medical Marijuana Medical marijuana is currently legal in 37 states and the District of Columbia, and while some of these states apply taxes to medical cannabis purchases, these rates are typically much lower than those applied to recreational sales. Because medical programs often require […]