Can you give a Texas sales tax exemption certificate if you don’t have a sales tax permit
Can you give a Texas sales tax exemption certificate if you don’t have a sales tax permit In Texas, you generally cannot properly issue a resale exemption certificate if you do not have a Texas Sales and Use Tax Permit. Here is the rule under Texas Comptroller of Public Accounts guidance: 1. Resale Certificates (Most […]
Illinois Coin-Operated Amusement Device and Redemption Machine Tax Act
Illinois charges a yearly tax for running certain coin-operated amusement machines (like arcade machines) and redemption machines (machines that give tickets/prizes, as defined in the Criminal Code). Section 1 — The yearly tax Section 2 — Registration, payment, and decals (stickers) (a) What operators must do before putting a machine out for the public Before […]
Texas Conservation Easement Attorney
What Is a Syndicated Conservation Easement (SCE)? A syndicated conservation easement is created when a promoter organizes a group of investors and places them into a pass-through entity, typically an LLC taxed as a partnership. That partnership purchases land and then donates a conservation easement, which restricts private use of the property in order to […]
Standard IRS crypto audit document request response
Standard IRS crypto audit document request response IRS Crypto Audit Document Request Response Packet (Standard Outline) The Basics: Label: “Response to IRS Information Document Request (IDR) – Virtual Currency” 1) Table of Contents Example: 2) Cover Letter / Attorney Transmittal Letter (1–2 pages) Include: Key language to use: ✅ Goal: cooperative but controlled. 3) Audit […]
Cryptocurrency Audit Tax Attorney Houston
A cryptocurrency IRS audit is when the IRS examines a taxpayer’s return to verify they properly reported crypto-related income, gains/losses, and disclosures. Crypto audits often focus on whether someone underreported taxable events or failed to disclose accounts/transactions. Below is what we typically look for to help clients (and what the IRS is usually looking for). […]
How COGS applies to Texas Franchise Tax
Texas Comptroller Issues New Guidance on Franchise Tax COGS The Texas Comptroller recently released new guidance clarifying several Texas franchise tax Cost of Goods Sold (COGS) issues that frequently trip up taxpayers. The guidance comes in the form of updated Frequently Asked Questions (FAQs) and addresses a range of practical concerns businesses face when calculating […]
When Oil & Gas Equipment Isn’t a Manufacturing Exemption in Texas Sales Tax
Southwest Royalties, Inc. v. Hegar — When Oil & Gas Equipment Isn’t a “Manufacturing” Exemption In Southwest Royalties, Inc. v. Hegar, the Texas Supreme Court resolved a high-stakes tax dispute with major implications for the oil and gas industry and state revenues. Background:Southwest Royalties, an oil and gas exploration and production company, paid sales taxes […]
How Does Sales Tax apply to Data Processing in Texas Rule 3.330
Data processing can be painted with a wide brush when we look at different service offerings of a business. Let’s take a look at the purpose of Texas Rule 3.330 and its exceptions. 1. Legal Authority and Purpose Rule 3.330 is promulgated by the Texas Comptroller of Public Accounts under authority granted by: Purpose The […]
Understanding Taxable vs Non-Taxable Items in Texas
Understanding Taxable vs Non-Taxable Items in Texas When it comes to Texas sales tax, the details matter. Many everyday items fall into different tax categories depending on how they’re prepared or intended to be used. Groceries vs. Prepared Foods: Basic grocery staples—such as fruits, vegetables, milk, and bread—are generally exempt from sales tax in Texas. […]
Texas Sales Tax Exemptions: Boots, Snacks, Bullion, and Coins
Texas Sales Tax Exemptions: Boots, Snacks, Bullion, and Coins Keywords: sales tax exemptions, taxable goods, cowboy boots tax, snack tax rules, bullion sales tax, coin tax exemption, state tax laws, retail tax compliance Introduction Sales tax rules can be confusing, especially when certain everyday items are taxed while others are exempt. For businesses and consumers […]