Sales Tax and Economic Nexus

January 13, 2021By KROST CPAs

These days, anybody who sells goods or provides services to somebody outside of their home state should ask themselves, “Do I need to collect sales tax?” The correct answer is always, “Good question!” However, the best way to get a useful answer is to start with a concept closely related to sales tax, namely “use Read the full article…

California Sets Threshold for Sales Tax

March 3, 2020By KROST CPAs

The South Dakota v. Wayfair 2018 case overturned the physical presence test, meaning out-of-state retailers selling to South Dakota residents are obligated to collect sales tax even if they do not have a physical presence in the state. It was expected that many states would issue laws similar to South Dakota and California has done Read the full article…

Sales Tax Compliance for California Restaurants

April 10, 2019By KROST CPAs

Below is a preview of one of the articles in the new KROST Quarterly Hospitality Issue, “The Battle to be a Profitable Restaurant: How to Deal with Employee Theft” by Aric Wong, CPA, Manager – Tax. “With 72,000+ restaurants in California, the state does everything possible to ensure taxes are properly reported, collected, and paid Read the full article…