The old mnemonic device for remembering states without a statewide sales tax, “NOMAD” (New Hampshire, Oregon, Montana, Alaska, and Delaware) might be dropping a letter. Specifically “A”, with the introduction of HB 3006 and HB 4005 in Alaska. HB 3006 and HB 4005 each includes legislative language that would implement a statewide tax on sales […]
The IRS issued Proposed Regulations in September that included a reduction to the required electronic filing threshold for businesses from 250 information returns to 100 returns for the 2021 tax reporting season. Further, the new requirements change the way that a business determines how to arrive at the number of returns required to be filed […]
2021 ACA reporting will most likely be different than prior years. Last fall, the IRS issued Notice 2020-76, which provided Affordable Care Act (ACA) filers with an extension of time to furnish Forms 1095-B and 1095-C to recipients. Instead of being due by the end of January, the forms could be mailed by March 2 […]
Like other alcohol producers, sake brewers are increasingly interested in the direct-to-consumer (DtC) shipping market to better connect with their consumers. While the laws governing DtC shipping of sake are fairly straightforward, broadly following the rules for shipping other product types, it is complicated depending on how each state defines sake itself. No state’s DtC […]
Texas has been quite active in amending its unclaimed property statute. Not long ago, it enacted Texas House Bill 3598 (HB 3598), which amended the manner in which holders report property to the state. Additional revisions were recently made to the statute, focusing on a number of other subjects in Texas House Bill 1514. Texas […]
Retailer direct-to-consumer (DtC) shipping still has a way to go in terms of being as widely accepted as DtC wine shipping. However, there has been continued interest in making that a reality. Sovos ShipCompliant keeps a close watch on the latest updates in the beverage alcohol industry, and we’ve gathered a few of the top […]
Fall is here and the wine direct-to-consumer (DtC) shipments landscape has adapted to the “new normal” of the pandemic. Staying mindful of marketplace data will ensure the industry can properly adjust to any ebbs and flows, helping wine producers, retailers and consumers alike. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide […]
At our Insurance Regulatory Summit, we announced the launch of the Web App, a new browser-based interface for the Sovos Statutory Reporting solution. The Web App is an addition that can further help users comply with statutory reporting and state filing requirements. The Web App was created for and by Sovos users to deliver a […]
Sparkling product registrations leads the way, with 23% spike in Q3 2021 As the summer months wind down, beverage alcohol consumers are not halting their buying patterns. While the third quarter of 2021 saw decreases in new product registrations when compared to Q2, numerous categories show continued increases over the last year, largely in wine […]
The unclaimed property filing season is broken down into three major categories: Analysis, Due Diligence and Final Reports. The cut-off date for the “Fall” filing season is June 30, the analysis is typically performed during July and diligence mailings are executed by August 31. Due diligence mailing requirements allow 30 days for a recipient to […]
The traditional 10-year anniversary gift is tin or aluminum, and while we don’t have a gift like that to celebrate a decade of SuiteWorld, we still want to help you plan the best SuiteWorld 2021 agenda possible. Whether you’re attending in person or virtually, there’s a lot to learn at SuiteWorld 2021. From attending various educational […]
Direct-to-consumer (DtC) alcohol shipping laws vary from state to state, and that fact holds true for importers looking to enter the DtC business. While importers can be treated similarly to other members of the “supplier” tier (e.g., wineries, breweries), they are often treated differently in federal and state regulations. Because of how DtC shipping laws […]
Sovos’ consultants have noticed a growing trend in 2021 as states across the country increase their unclaimed property pre-audit activity or voluntary compliance programs. Due to the negative economic impact resulting from COVID-19, Sovos’ consulting, reporting and regulatory teams have been preparing for increased unclaimed property compliance enforcement efforts to shore up struggling state budgets. […]
The Commonwealth of Massachusetts is squarely in the midst of modernizing its sales tax filing and remittance requirements, and in so doing, creating new, novel and likely challenging requirements for taxpayers. The most recent incarnation of this modernization was announced in its September 2021 DOR News, which hints at new requirements for restaurants and ecommerce […]
By Tom Wark, Executive Director, National Association of Wine Retailers The effort to open more states for interstate wine retailer-to-consumer shipments is multi-pronged. One prong—perhaps the most important—is the effort to overturn discriminatory state laws by using the federal courts to challenge state laws that violate the U.S. Constitution’s dormant commerce clause as well as the […]
As the digitization of tax continues, many organizations are looking to reduce the complexity and cost of tax compliance. In our latest spotlight report, created in partnership with Americas’ SAP Users’ Group (ASUG), “Boost Tax Compliance Capabilities and Visibility with SAP S/4HANA”, we discuss the most optimal time in the SAP S/4HANA migration process to […]
Earlier this year, SB 307 was enacted in Nevada, effectively eliminating the right for Nevada residents to receive direct-to-consumer (DtC) shipments of beer and spirits from producers, or any alcoholic beverage from out-of-state retailers. Previously, Nevada DtC alcohol shipping permissions were among the most open, with the state allowing breweries, distilleries and retailers to sell […]
Unclaimed property due dates are spread across the calendar year and differ by state and holder/company type. Complicating matters even further, each state’s own unclaimed property rules and regulations are updated frequently. We’ve gathered state-specific information on unclaimed property due dates to help you stay on top of this changing information. The Sovos regulatory analysis […]