Proposed rule for sales tax on cloud computing services withdrawn in MS
If you’re paying for cloud computing services in the Magnolia State, there’s good news: The Dept. of Revenue has just withdrawn a proposed rule to make various cloud computing services subject to sales tax.
As written, the proposed rule would’ve imposed the state sales tax on any Software as a Service (SaaS) solution, as well as any platform as a service or infrastructure as a service solutions delivered via the cloud.
Although there are no immediate plans to tax cloud-based solutions in Mississippi, be aware: The governor signed SB 2831 in March 2022. This bill created the Taxation of Remote and Internet-based Computer Software Products and Services Study Committee. The committee’s purpose is to review current sales and use tax laws to create recommendations for taxing internet-based computer software – including cloud computing applications.
Free Training & Resources
Further Reading
Any business owner who paid employee salaries or health benefits during COVID-19 restrictions will be waiting a while longer for a tax cred...
No matter where entrepreneurs decide to start a business, they face a variety of taxes and regulations that cut into the bottom line from t...
The U.S. Supreme Court (SCOTUS) handed down enough precedent-breaking decisions this spring to make anyone’s head spin. The upshot: B...
The worst of the COVID-19 shutdown measures and George Floyd riots peaked less than three years ago. But the effects continue to rattle sta...
The Internal Revenue Service has extended corporate, business and individual tax deadlines out to June 17 for San Diego, Detroit and dozens...
The IRS is extending an olive branch to businesses that received tax credits related to COVID-19 in error. The tax cops are launching a ...