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2024: What’s coming up in sales tax

TaxConnex

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. Overall, state tax revenues dropped 5.3%. If so, watch out for 2024.

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States ease nexus thresholds

TaxConnex

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. South Dakota – center of the Supreme Court’s landmark decision in 2018 – recently eliminated its economic nexus transaction threshold.

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Do you really understand economic nexus for sales tax?

TaxConnex

But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. It can be physical in the form of one of your offices actually being in a state or other tax jurisdiction.

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Happy fifth birthday, Wayfair, as your rules keep changing

TaxConnex

Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. From SCOTUS to ‘patchwork’ In June 2018, the Supreme Court’s narrow decision in South Dakota v. See a history of sales tax here.) It’s been five years since the U.S. Wayfair, Inc.

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Risks of misunderstanding the impact of economic nexus

TaxConnex

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Companies that acknowledge their sales tax nexus still often overlook its impact and the sales tax obligations it creates. How is technology being taxed? Wayfair, Inc.

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Four years since Wayfair: A trend takes hold

TaxConnex

The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular. Wayfair, Inc.

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Don't Test Your Luck with Non-Compliance

TaxConnex

Patrick’s Day, don’t look to four-leaf clovers, pots of gold or leprechauns to bail you out of trouble with sales tax. If your company has a sales tax obligation s and doesn’t have a process yet in place, plan for the risks of non-compliance. Supreme Court Case, South Dakota v. sales tax audits ?are