World of Finances

Share Christmas Tree Tax 2011 Do you think the Christmas tree market needs a boost? It appears the growers’ association might. Within a 24-hour period this week, the government went from “…imposing a 15-cent fee on most fresh-cut Christmas trees…” to “…this is a growers’ arrangement to boost tree sales…” to “…the Obama Administration is not taxing Christmas trees…” then “…USDA is going to delay implementation and revisit this action.” Originally, it has been reported that “…the fee would fund a program designed to benefit the industry and will be funded by the growers.” There was no expectation that the consumers would feel any impact beyond increased advertising to “…enhance the image of Christmas trees and the Christmas tree industry in the United States.” The fees would fund a new promotion board and launch “…a program of promotion, research, evaluation, and information designed to strengthen the Christmas tree industry’s position in the marketplace; maintain and expend [sic] existing markets for Christmas trees; and …carry out programs, plans, and projects designed to provide maximum benefits to the Christmas tree industry.” Basically, another “got milk,” “what’s for dinner” or “the other white meat” campaign—for Christmas trees. Full Article…

Scottt McFarlane “Any business can eliminate the complexity,” says industry expert, Scott McFarlane. Bainbridge Island, WA – Nov. 11, 2011 – Sales tax may be in the media spotlight now, but it’s always been a huge concern for business owners, says Scott McFarlane, CEO of Avalara, the nation’s leader and pioneer in the automated sales tax service movement. “The current discussions surrounding online sales tax collection often miss an important point:  it’s easy and cost effective to add sales tax automation to the business process,” says McFarlane.  “Companies of all sizes – including online retailers – can alleviate the risk and burden of sales tax compliance by outsourcing the function, just as they do payroll management.” McFarlane speaks from experience.  Since 2004, he has led a massive effort at Avalara to provide a fast, easy way to manage indirect taxes that is as accurate and affordable for small- and mid-sized businesses as it is for large corporations.  Avalara’s mission:  to make tax compliance attainable for all.  The company has more than 150 partner relationships with financial application, e-commerce and point of sale vendors and serves thousands of customers worldwide. Full Article…

Share Don’t mess with Texas…or do? As is well known by now, the $269 million dollar bill sent by Texas Comptroller Susan Combs to Amazon for failure to collect and remit sales tax from 2005-2009 triggered state efforts on a national scale to hold the online retailer accountable for lost revenue. The debate has mostly focused on whether or not affiliates should be considered “physically present,” as exemplified by recent showdowns in North Carolina, California, New York, and Rhode Island. This focus stems from the 1992 Supreme Court Case Quill Corp. vs. North Dakota ruling which legally requires retailers that have a physical presence (nexus) in a state – i.e. distribution centers, plants, warehouses, storefronts, etc. – to collect and remit sales tax. Many states have adopted legislation defining nexus at the state level. In the case of Texas, there was a fully operational Amazon distribution center in Irving during the period for which the giant retailer was billed, in addition to thousands of local affiliates. Full Article…

In my most fuel efficient cars post, I highlighted the Nissan Leaf as the top mpg (equivalent) vehicle on the market for under $30K. But a key component of that was the U.S. federal tax credit of $7,500 knocking the sticker price down from $32,780 to $25,280.

I mentioned that some states further offered additional tax incentives on top of the federal credit, which prompted a reader to ask for a list of those states.

It was a great question. Without the tax incentives these vehicles just dont make sense economically. With them, there is a chance they could actually make you money back by saving hundreds, if not thousands a year on fuel and maintenance costs.

Full Article…