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Hot Topics: Economic Nexus Thresholds and Reporting Requirements | TaxConnex

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Louisiana and South Dakota, for instance, have repealed their 200-transaction thresholds (Louisiana’s repeal took effect last Aug. (States’ economic nexus thresholds differ widely, but as a general rule, if your company reaches $100,000 a year in sales in a state it’s time to investigate if you’ve established economic nexus there.)

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Update on local jurisdictions and sales tax

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This is prevalent in Alabama, Colorado, and Louisiana. In Alabama, if you only have nexus related to economic nexus thresholds, then you are allowed to apply a single tax rate across the state and report all tax on a Remote Seller Return. Louisiana also offers a single Remote Seller Return.

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2024: What’s coming up in sales tax

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States expected to be hit hardest by falling sales tax revenue are Idaho, South Dakota, Louisiana, South Carolina and Florida. In 2021, Wisconsin and Maine both removed their transaction threshold; in 2023, South Dakota and Louisiana joined suit. Delivery fees “Sales taxes” are starting to take different forms.

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Can an eCommerce platform alone manage sales tax?

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Examples of states with home rule are Alabama, Louisiana, Illinois, Colorado and Alaska. Louisiana home-rule locations largely follow their state-wide tax treatment for TTP. Louisiana home-rule locations largely follow their state-wide tax treatment for TTP. Yet again, this can vary. Marketplace facilitators.

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What’s new in sales tax?

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Highs and lows: According to The Tax Foundation’s most recent analysis , the five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). Effective next Jan. Effective next Jan.

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What’s new in sales tax?

TaxConnex

The Foundation found that the five states with the highest average combined state and local sales tax rates are Louisiana (9.56%), Tennessee (9.55%), Arkansas (9.45%), Washington (9.38%) and Alabama (9.29%). Corporate Transparency Act (CTA) has hit a snag: A U.S. Though the U.S.

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Home Rule: Can Local Jurisdictions Create Sales Tax Obligations?

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The Tax Foundation goes on to state “In Alaska, Colorado, and Louisiana, this issue is compounded by the additional challenge of divergent tax bases, where different jurisdictions tax different baskets of goods and services.” Louisiana has similarly established a commission for remote sellers to serve as a single collection entity.

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