Defining Service Tax For Your Business

In the first part of this series, we discussed how states that previously relied on a sales taxes are turning to service taxes to make up for a decreased buying power in specific goods. Consumers are now investing their hard earned dollars into services, like hair styling, dining out, personal training or streaming movies. As this trend continues, businesses need to know how and whether they will be affected. In this second part of the series, we will be looking at how states determine and define a tax on service.
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Is Your Business Affected By Service Tax?

American spending trends have been changing over the years, moving away from paying for material goods and instead choosing to indulge on services. Increasingly more Americans choose to eat out rather than buy the groceries to prepare food at home. Thanks to advances in technology, we choose to stream music and movies rather than purchasing a CD or DVD. We even are paying people to helps achieve our ideal bodies, and then turning to someone to make those worn out bodies feel better.
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