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When One State’s Tax-Exempt Necessity Is Another’s High-Tax Discretionary Purchase

PYMNTS

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Sales taxes’ price tags.

Taxes 146
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What The Streamlined Sales And Use Tax Agreement Means After Wayfair

PYMNTS

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. . SSUTA’s Role in South Dakota v.

Taxes 141
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Is Sales Tax An Anchor On Amazon?

PYMNTS

One of the more long-grumbled complaints in retail is that Amazon and other eCommerce players are able to exploit a loophole that allowed them to mostly avoid charging sales tax. Would collecting sales tax 100 percent of the time take a bit out of Amazon’s bottom line? Recent data suggests — probably not.

Taxes 101
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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

Retail 109
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Local Governments Move In On Retail Vacancies

PYMNTS

Many municipalities are looking to help by proposing new uses for vacant retail sites, including a citywide initiative in Fairfax, Virginia called Activate Fairfax , where the Department of Economic Initiative is soliciting requests for interest in an abandoned Container Store location. Even smaller cities are opting for such taxes.

Retail 135
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Credit Karma Now Offers A High-Yield Savings Account

PYMNTS

Credit Karma , a company that enables people to gain access to their credit scores, is launching a high-yield savings account that customers can use through an app and online. Credit Karma is partnering with West Virginia-based MVB Bank on the venture. Vio, an online bank, has an account that pays 2.42

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For faster loan origination, stop doing this

Abrigo

Frustrating processes tied to credit requests and slow loan decisions are among borrowers’ biggest complaints about banks and credit unions compared to online or alternative lenders. Stop manual tax-data entry. Easily upload and import the data. Instead : Skip this step entirely.

Lending 221