Food & Beverage Businesses: How to Make Sales Tax Compliance More Efficient, Less Expensive and Have Better Visibility into Your Data
Jun 03,2019
The obligation to collect state and local taxes is onerous – more so in the food and beverage service, franchise, and distribution industries than anywhere. Sales and use tax regulations seem to change on an almost daily basis, forcing businesses to examine and adjust their compliance process on a state by state (and often locality by locality) basis – where each government sets its own tax rate. Add liquor sales to the mix and the complexity grows. When it’s all said and done, sales and use tax compliance can be an expensive and time-consuming function, fraught with the potential for costly errors and penalties. So you might be asking yourself - what is my business obligated to collect and remit tax on? Taxable goods and services (typically defined at the state level through legislative efforts) are usually evaluated at two levels to determine taxability and the tax rate: 1.  Classification...
State-by-State Breakdown of Economic Nexus
Feb 11,2019
The U.S. Supreme Court ruling in June of 2018 regarding sales tax nexus standards created a new source of significant revenue for 45 states. We cautioned at that time that states would take advantage of this opportunity quickly. Indeed, many states have already adopted new sales tax nexus standards, most using South Dakota’s threshold of $100,000 in sales or 200 transactions. However, Texas and New York recently adopted sales tax nexus standards (Texas’ to begin 10/1/19 and New York’s was effective immediately) that use different thresholds. Below is a listing of states with their sales tax nexus standards. We will update this list as new states issue guidance. It is also available as a printable PDF by clicking the PDF icon at the top left of this article. Our advice to readers in June remains the same and is underscored by the mix of thresholds and effective dates you’ll see...
Smith & Howard Launches Enterprise Risk Security with Addition of Martha Raber
Nov 01,2018
ATLANTA, GA – Smith & Howard welcomed Martha Raber, HCCSFP, TPECS, CISSP, CSA STAR as a Manager in the Accounting and Advisory Services Group in connection with the firm’s expansion of its advisory services offerings to include Enterprise Risk Security services. “Our advisory services continuously grow to meet the needs of our clients. As part of this growth, we are excited to launch Enterprise Risk Security services and to welcome Martha Raber on board as an industry expert. Martha brings high level experience and expertise to this service line and expands our reach to the growing health care industry,” said Marvin Willis, Partner in charge of Smith & Howard’s Accounting and Advisory practice. About Martha Raber Martha will be responsible for educating, directing and guiding organizations in navigating applicable standards, laws and regulations to meet compliance and manage risk on an ongoing basis. Martha earned both a Bachelor of Science...

Go back to Blog Home