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Definitions (34)
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Taxable Services
In general, professional and personal services are not taxable unless the state includes specific types of services in their definition of taxable transactions. Examples of taxable services in many st [..]
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Agency
In law, a relationship in which one party (the agent) acts on behalf of and under the express or implied control of another (the principal) in dealing with third parties. In general, if agency exists [..]
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amnesty
Tax amnesty is an opportunity for taxpayers to disclose incomplete or unreported information about previous tax periods with limited liability for back-taxes and/or interest or other penalties.
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borough
An administrative division or municipality. The size of a borough depends on the state. For example, in Alaska it is similar to a county while in Pennsylvania it is similar to and smaller than a cit [..]
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COMMERCE CLAUSE
The Commerce clause, in part, authorizes Congress to “regulate commerce with foreign nations, and among the several States.” The Supreme Court has ruled that the Commerce Clause prohibits states from [..]
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CONTINGENCY
A contingency is defined as an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to a company that will ultimately be resolved when one or more f [..]
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Drop Shipping
This is a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, w [..]
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DUE PROCESS CLAUSE
The Due Process Clause states that no state shall “deprive any person of life, liberty, or property, without due process of law.” With respect to state taxation, the Supreme Court has interpreted thi [..]
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Excise tax
This refers to an indirect type of taxation imposed on the manufacture, sale or use of certain types of goods and products. Use tax is a type of excise tax imposed on both businesses and individuals. [..]
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Exemptions
In general, exemptions are statutory exceptions eliminating the need for the retailer to collect sales tax on a particular transaction or on all transactions with a customer. The most common exemptio [..]
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