TaxConnex

JANUARY 18, 2024

Take economic nexus thresholds. Supreme Court’s Wayfair decision largely opened sesame for states to begin economic enforcing nexus thresholds. Physical nexus standards – such as having offices, staff or inventory in a state – had long mandated that retailers had to collect and remit a state’s sales tax.

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South Dakota Louisiana Colorado Alaska 203

TaxConnex

JANUARY 30, 2024

States’ definitions of a “marketplace facilitator” vary almost as much as states’ sales tax laws themselves. Laws governing marketplace facilitators popped up when states began to realize that platforms like Amazon were taxing sales of their products but not necessarily charging sales tax on third-party (aka “marketplace”) sales.

Iowa 204

Iowa Pennsylvania Illinois Tax 204

TaxConnex

FEBRUARY 1, 2024

Tracking your nexus: Nexus is the connection you have between a state or local taxing jurisdiction; it’s determined by either a physical or economic presence. Since the Supreme Court’s 2018 Wayfair decision, states have been frequently changing their economic nexus thresholds (see “Changes” below).

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Sales Tax Minnesota Colorado 230

TaxConnex

FEBRUARY 6, 2024

No matter the size of your business, if you are selling a taxable product or service and establish nexus in specific states or jurisdictions, then you have a sales tax obligation. There are many moving parts and as states continue to make adjustments to their statutes, it is important to stay in the know.

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Sales Tax Technology auditor 214

TaxConnex

AUGUST 31, 2023

Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide. Marketplace facilitators do sometimes have their own nexus concerns over gross receipts.

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Sales E-commerce Tax Alaska 229

TaxConnex

SEPTEMBER 26, 2023

A complex environment Economic nexus. The 2018 Supreme Court decision in South Dakota vs. Wayfair opened the floodgates for economic nexus throughout the U.S. These thresholds vary state to state and change often, with Missouri being one of the latest to enact economic nexus. Taxability.

Sales 202

Sales Tax South Dakota Colorado 202

TaxConnex

JANUARY 16, 2024

Your tax obligation and liability begin with where you have nexus , the connection between your company and a taxing authority or jurisdiction. Physical presence has also long been able to create nexus. Physical presence has also long been able to create nexus. SaaS incurs sales tax in roughly half the states.

Iowa 206

Iowa Connecticut Maryland Colorado 206

TaxConnex

NOVEMBER 2, 2023

Here are some potential planning projects that can really add value for your clients so they can head into 2024 with a stronger foundation of where they are with sales tax: Nexus review: Determine if the new markets are creating sales tax nexus in new states.

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Sales Tax income tax tax planning 194

TaxConnex

MARCH 26, 2024

More businesses than ever have a multi-state sales tax obligation and are trying to find the best way to balance their cost of compliance versus the risk of noncompliance. At the heart of finding that perfect balance is understanding the complexities of the ever-changing state and local sales tax landscape.

Sales 159

Sales Tax tax return Retail 159

TaxConnex

SEPTEMBER 8, 2022

Businesses who sell over the internet must pay a lot of attention to far-flung economic tax thresholds – all states with a state wide sales tax and more than a few localities enforce them now – so it’s easy to overlook a more-obvious tripwire like physical presence. Clear enough.

Tax 222

Tax Sales Legal South Dakota 222

TaxConnex

JUNE 30, 2022

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. Here’s a look at some of the latest developments regarding gross sales and economic nexus. Groundwork.

Sales 201

Sales Oklahoma Arkansas Alabama 201

TaxConnex

JUNE 14, 2022

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. Here’s a look at some of the latest developments regarding gross sales and economic nexus. Groundwork.

Sales 201

Sales Oklahoma Arkansas Alabama 201

TaxConnex

SEPTEMBER 1, 2022

This June marked 4 years since the landmark Supreme Court decision that launched economic nexus, South Dakota v. The following is a list of 3 things you need to know to get started in understanding your economic nexus footprint. State thresholds are not all the same. New York: $500,000 sales AND 100 transactions.

South Dakota 200

South Dakota Mississippi Iowa Sales 200

TaxConnex

SEPTEMBER 28, 2022

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. Nexus can be economic and based on a threshold of sales volume in a given time. Nexus can also be physical, created by inventory, employees or reps in a state or jurisdiction.

South Dakota 204

South Dakota Alaska Tax Sales 204

TaxConnex

AUGUST 29, 2023

The situation has only gotten more complicated in the five years since the Supreme Court unleashed economic nexus with the Wayfair decision. Nexus thresholds can be a dollar amount in sales, a set number of sales or a combination. Sales made through your own website is subject to sales tax once you’ve established nexus.

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Sales E-commerce Tax Manufacturing 130

TaxConnex

JUNE 10, 2021

Your sales tax obligations start with whether or not you have sales tax nexus. Without it, you have no obligation to collect and remit sales tax to specific taxing states or jurisdictions. Your sales tax nexus is determined by either a physical or economic presence within a taxing jurisdiction. Monitoring Economic Nexus.

South Dakota 242

South Dakota Missouri Tax Sales 242

TaxConnex

NOVEMBER 9, 2023

The biggest event in recent memory to do so is probably the 2018 Supreme Court decision in Wayfair , which opened the floodgates to states that had a sales tax quickly creating and enforcing economic nexus thresholds. Stay tuned on this and other nexus news, as laws constantly change in states.

Sales 147

Sales Tax Missouri Start-ups 147

TaxConnex

JULY 19, 2022

In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. that an out-of-state seller could establish “nexus” through economic activity in tax jurisdictions. The state also imposed a 200-transaction threshold on out-of-state sales.

South Dakota 214

South Dakota Sales Tax tax consultant 214

TaxConnex

MARCH 10, 2022

Businesses have heard a lot about economic nexus over the past few years. 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.

South Dakota 188

South Dakota Sales Tax Maryland 188

TaxConnex

MARCH 12, 2024

Except that so far a straightforward ChatGPT inquiry into states’ tax changes doesn’t always turn up the latest information (early 2022 seems to be a popular cut-off period). Potential problem: Technology might be able to help you determine economic nexus based on bright-line distinctions as to what does and does not create nexus.

E-commerce 231

E-commerce Technology tax return Tax 231

TaxConnex

FEBRUARY 15, 2024

B&O responsibility: A Washington State appellate court has found two sellers responsible for sales tax and business and occupation (B&O) tax on sales made through Amazon’s Fulfillment by Amazon (FBA) program. Washington implemented economic nexus thresholds for B&O tax effective Jan. Virginia’s Republican Gov.

Sales 190

Sales Tax Illinois Washington 190

TaxConnex

MARCH 9, 2021

In fact, a recent survey TaxConnex conducted through Porter Research found that the top sales tax worry of finance pros in 2021 was understanding changing nexus laws. Your first thing you need to understand is where you’ve established nexus. W ithout sales tax nexus , you have no further sales tax obligation s to a state.

Missouri 236

Missouri Tax Sales Florida 236

TaxConnex

OCTOBER 5, 2023

Nexus and taxability Even before the Supreme Court’s Wayfair decision five years ago, states had nexus thresholds, often hinging on a company’s physical presence in a state (offices, warehouses, personnel). Do you sell enough into a given state – and states’ rules all differ – to have economic nexus?

Sales 147

Sales Tax Missouri auditor 147

TaxConnex

JUNE 21, 2022

In early June of 2018, sales tax news showed an industry evolving steadily but locally, as individual states, cities and even towns made most of the headlines. Sellers found themselves having to evaluate changing tax responsibilities under both economic nexus thresholds and physical presence standards. Wayfair, Inc.

South Dakota 185

South Dakota E-commerce Alaska Missouri 185

TaxConnex

JANUARY 11, 2024

The primer adds general background on sales tax and their current applications across the various states, as well as mentions that taxation of shipping and handling can also vary. However, Shop sellers would need to consider the sales via Shop as they could contribute to economic nexus thresholds in various states.

Sales 200

Sales Tax Utah tax return 200

TaxConnex

JULY 21, 2022

Understanding economic and physical nexus and the taxability of your products and services goes a long way to ensuring your sales tax compliance. nexus requires remote sellers to collect sales tax because they hit certain thresholds of revenue or sales in states. states set their own parameters?– Generally, a?marketplace

Sales 178

Sales Tax Pennsylvania Ohio 178

TaxConnex

AUGUST 24, 2021

Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). The evolution of marketplace facilitators’ sales tax obligations resembles the post- Wayfair evolution of nexus requirements for all online sellers. Think of it almost like a consignment shop.

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Sales South Dakota Tax South Carolina 213

TaxConnex

JULY 6, 2021

Missouri has officially become the last state with a state-wide sales tax to enact economic nexus. T he Show Me State follows on the heels of Florida , where economic nexus kicked in as of July 1 for remote sellers and marketplace facilitators. 44 other states and Washington D.C., Missouri Gov.

Missouri 210

Missouri South Dakota E-commerce Florida 210

TaxConnex

JUNE 22, 2023

Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. Some facets related to economic nexus are changing in certain states – sometimes for the better for remote sellers, sometimes for the worse. Some states never adopted one.) Wayfair, Inc.

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South Dakota North Dakota Colorado Minnesota 130

TaxConnex

JUNE 20, 2023

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. States seem to have begun lowering their transaction thresholds or are becoming more open to the idea. Some states never adopted one.) Starting Aug.

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South Dakota North Dakota Wisconsin Iowa 186

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap.

South Dakota 124

South Dakota Tax Maryland income tax 124

TaxConnex

MAY 4, 2021

But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project. connection a business has with a state or taxing jurisdiction. Physical nexus?means

Sales 246

Sales Tax South Dakota audit 246

BurklandAssociates

NOVEMBER 21, 2023

As of 2023, all states have enacted economic nexus legislation. Every business must understand state requirements and evaluate the tax implications. The post State Sales Tax Liability Continues to Evolve for US Startups appeared first on Burkland.

Sales 130

Sales Tax 130

TaxConnex

FEBRUARY 9, 2023

States aren’t the only ones who can complicate your life with sales tax: Local governments want to play their part, too. The states and local jurisdictions have been the beneficiary of economic nexus over the past four years. Economic nexus is the threshold at which a seller incurs sales tax obligations.

Sales 130

Sales Louisiana Alabama Tax 130

TaxConnex

OCTOBER 31, 2023

In the first year, your sales total is $100,000 (the economic nexus threshold in many states) and grows 20% annually over the next three years, for a total of $364,000 in sales. Jurisdictions tweak economic nexus requirements all the time (check some of our recent sales tax news updates ). How is it delivered?

Sales 147

Sales Tax Alaska Colorado 147

TaxConnex

MAY 24, 2022

Sales tax nexus is the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell. Supreme Court ruled that the state of South Dakota could require businesses with no physical presence in the state to collect sales tax.

South Dakota 186

South Dakota Sales Tax Retail 186

TaxConnex

SEPTEMBER 14, 2023

Have you reached nexus thresholds in multiple states? Will each shipment in a subscription count towards your nexus thresholds? Regarding potential physical nexus , where are your offices and employees and where is your inventory stored? Many states (but not all) rely on transaction counts to establish economic nexus.

Sales 147

Sales Rhode Island Tax Kansas 147