Mike Plaster

Historically, most states exempted services from sales tax – for a good reason: When states first began to levy these taxes around 1930, people spent more of their money on tangible goods. However, according to the Bureau of Economic Analysis, those ...

As we all know, however, the economy is cyclical. And while it’s important to capitalize when times are good, smart business owners also make sure they’re prepared in case things start moving in a different direction.

First and foremost, you’ll need to get a sales tax permit — it’s against the law to collect sales tax without one. Getting a sales tax permit is just one of the many things you have to do when you start a business. To get one, complete your ...