A Point of Sale (POS) is a place where a customer pays for goods or services and where sales taxes may be due.
A point of sale transaction can be done in person or over the Internet, with receipts generated either in hard copy or electronically. Cloud POS systems are becoming more and more popular among merchants.
POS systems are becoming more interactive, especially in the hospitality industry, and allow customers to place orders and make reservations, as well as pay bills electronically.
Choice 83(b) is an Internal Revenue Code (IRC) provision that gives an employee or startup founder the ability to pay taxes on the total fair market value of the restricted shares at the time of grant.
External economies of scale - these are factors that contribute to the development of business, which are manifested outside the company, but within the same industry.
The Federal Unemployment Tax Act (FUTA) is a law that imposes a payroll tax on any business with employees; the income generated is used to fund unemployment benefits.
A franchise tax is a fee paid by certain businesses that want to do business in certain states. Contrary to what the name implies, a franchise tax is not a franchise tax.
A legacy clause is a provision that allows people or organizations to follow the old rules that once governed them instead of the new ones, often for a limited time.