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. Not evaluating your nexus as your business evolves Nexus can be determined by either a physical or economic presence.

Sales 215

Sales Tax Technology auditor 215

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. States determine their own thresholds so it is not as simple as knowing one is knowing all.

South Dakota 201

South Dakota Mississippi Iowa Sales 201

TaxConnex

JANUARY 3, 2023

Next summer will mark five years since the Supreme Court ignited economic sales tax nexus with the South Dakota v. Many businesses are still trying to figure out how to manage the resulting obligations, but one thing’s clear: Now every state with a sales tax has economic nexus. Economic nexus is in addition to physical presence rules.

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South Dakota Sales Alaska Tax 197

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 203

Sales Oklahoma Arkansas Alabama 203

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 202

Sales Oklahoma Arkansas Alabama 202

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 205

South Dakota Alaska Tax Sales 205

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. Yet again, this can vary.

Sales 203

Sales Tax South Dakota Colorado 203

TaxConnex

JUNE 10, 2021

Your sales tax obligations start with whether or not you have sales tax nexus. Your sales tax nexus is determined by either a physical or economic presence within a taxing jurisdiction. Economic nexus is the newer standard and comes as an addition to physical presence. This is now referred to as economic nexus.

South Dakota 243

South Dakota Missouri Tax Sales 243

TaxConnex

SEPTEMBER 15, 2022

Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. We’ve determined 10 things to avoid in order to minimize the risks associated with a sales tax audit. Not assessing nexus. Not knowing your taxability. Not knowing your taxability.

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audit Sales Tax auditor 164

TaxConnex

APRIL 11, 2023

Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. We’ve determined 5 things to avoid in order to minimize the risks associated with a sales tax audit: Not assessing nexus - Determining where you have nexus is key to determining your sales tax liability.

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audit Sales Tax auditor 130

TaxConnex

MAY 25, 2023

Sales tax obligations begin with whether you have nexus in a state or other locality. Nexus today largely stems from two main factors – a physical presence or economic presence. Once nexus has been established you must determine if your products/services are taxable.

Sales 130

Sales Tax audit Maine 130

TaxConnex

DECEMBER 27, 2022

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. That is unless an exemption applies.

Sales 189

Sales Tax Non-Profits Maine 189

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. This review must look at nexus, and not just your economic nexus created by a volume of sales but your physical one as well.

Sales 147

Sales Tax Missouri Start-ups 147

TaxConnex

MARCH 30, 2021

Thinking Nexus is Static: Figuring out where you have nexus is key to determining your liability. This trigger point is determined by a physical or economic presence. This trigger point is determined by a physical or economic presence. As your business evolves so can your nexus.

tax return 242

tax return Tax audit Sales 242

TaxConnex

OCTOBER 26, 2023

Based on these elements, the software determines if sales tax is applicable and at what rate, calculates the sales tax and returns this for presentation on the invoice or the web page. Determine your sales tax requirements. Technology and automation can help determine where you have crossed certain economic nexus thresholds.

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Technology Sales Tax E-commerce 147

TaxConnex

SEPTEMBER 24, 2020

It has been two years since the US Supreme Court passed the Wayfair decision which paved the way for states to enact economic nexus rules. Complete a Nexus Review. Nexus is determined by a physical presence OR economic presence within a state or jurisdiction. Nexus can be an evolving issue for many businesses.

Sales 243

Sales Tax Start-ups audit 243

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 ). Think “nightmare” is too strong?

Sales 147

Sales Tax Alaska Colorado 147

TaxConnex

APRIL 26, 2022

It’s also mostly up to you to determine your sales tax obligation, and the rules for complying change frequently. Determining your responsibilities. Your sales tax obligation starts with nexus. Nexus is the connection a business has with a taxing jurisdiction. economic nexus guide ?to to see rules by state.)

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audit Tax Sales Start-ups 173

TaxConnex

FEBRUARY 24, 2022

Determining sales tax risk. to determining sales tax risk as early as possible in a potential merger or acquisition: Determine Sales Tax Nexus. Not every business will be willing to pay the fees associated with a formal economic nexus review.) beforehand and protect their company by being in compliance.

Sales 195

Sales Tax tax return payroll 195

TaxConnex

AUGUST 16, 2022

In fact, 24% of finance professionals rank one of their top concerns of managing sales tax as keeping up with their evolving nexus footprint, according to a TaxConnex blind survey conducted at the end of 2021. Managing sales thresholds and an expanding nexus footprint. Taxability of new products and services.

Technology 190

Technology Sales Tax audit 190

TaxConnex

JANUARY 26, 2023

Among them: Online sellers will challenge more states’ concept of nexus and warehouses – especially for storing inventory for marketplace facilitators such as Amazon, subject of a recent victory for sellers in Pennsylvania. A state court there found that having inventory at such a facility was insufficient to create nexus.

Sales 130

Sales Tax Arkansas Missouri 130

TaxConnex

NOVEMBER 18, 2021

First, you must determine where you have established nexus, or a connection to a taxing jurisdiction. Tax jurisdictions have long used physical nexus to determine whether a company has a sales tax collection and remittance obligation. Download our Sales Tax Nexus guide to learn more!

Sales 179

Sales Tax Non-Profits audit 179

TaxConnex

AUGUST 30, 2022

But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. Sales tax laws change often, so check in any state where you have sales tax nexus. has helped companies in many industries?alleviate

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Sales Tax Wisconsin Massachusetts 190

TaxConnex

JUNE 22, 2023

Some facets related to economic nexus are changing in certain states – sometimes for the better for remote sellers, sometimes for the worse. et al determined that an out-of-state seller could establish “nexus” through just economic activity. Those governments jumped on the chance of such revenue and continue to do so.

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South Dakota North Dakota Colorado Minnesota 130

TaxConnex

OCTOBER 6, 2022

Nexus and taxability. First, you need to determine where you have sales tax nexus ; the connection between a tax jurisdiction and a company that creates a sales tax obligation on behalf of the company. Nexus can be physical, created by an office or personnel in a state. Evaluate mitigation options.

Sales 199

Sales Tax tax return audit 199

TaxConnex

OCTOBER 28, 2021

Let’s say you are selling a product and/or taxable service in a jurisdiction where you have nexus but are not taxing your customers. If your company sells into multiple states and has established sales tax nexus, it is critical that you evaluate your exposure ASAP. A nexus review. Determine if a VDA is right for your business.

Sales 206

Sales Tax audit Legal 206

TaxConnex

JULY 28, 2022

Mitigating sales tax liability starts with the same two factors that you use in determining your obligations in the first place: Your nexus and the taxability of your revenue streams. To evaluate your economic nexus footprint, follow these steps. Anywhere you have a customer or client could potentially result in economic nexus.

Sales 130

Sales Tax Start-ups Legal 130

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.

Sales 215

Sales South Dakota Tax South Carolina 215

TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. This is known as “ economic nexus.”. This was and is still referred to as click-through nexus or Amazon Laws. What is Affiliate Nexus?

South Dakota 164

South Dakota E-commerce Rhode Island Illinois 164

TaxConnex

FEBRUARY 18, 2021

Sales and use tax obligations are determined by your nexus within a state or jurisdiction. Sales and use tax nexus is defined as the connection between a person or entity and a taxing jurisdiction. Wayfai r enacted economic nexus, physical presence reigned supreme when it came to determining a business’ sales tax obligation.

South Dakota 146

South Dakota Tax Sales Transportation 146

TaxConnex

SEPTEMBER 15, 2020

Determine Nexus. Sales and use tax nexus is a connection between a person or entity and a taxing jurisdiction. Without nexus, you have no further obligation to a state, but if nexus does exist, you ’ll need to do some additional work. Determine Taxability. This is the basis for all your sales tax decisions.

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Sales Tax tax consultant cpa firm 227

TaxConnex

NOVEMBER 28, 2023

Determining your VAT obligations involves several other questions: Are you importing goods into Europe and then selling there? tax jurisdictions in which they have nexus. (A Contact us to learn about the latest developments in sales-tax nexus and what they mean to you and your company. Do you hold stock/inventory in Europe?

Sales 210

Sales Tax Transportation Maine 210

TaxConnex

FEBRUARY 22, 2022

Your sales tax obligation and liability begin with where you have nexus , a connection between your company and a taxing authority or jurisdiction. Regardless of whether you have sales tax nexus or not, many businesses assume that sales tax doesn’t apply to software or SaaS. Special delivery. What is “software” anymore? has assisted?companies?in

Sales 184

Sales Tax North Carolina Mississippi 184

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. now have economic nexus laws. States’ economic nexus thresholds (generally number of transactions, a dollar amount or both) vary a lot. Assessing your footprint.

South Dakota 188

South Dakota Sales Tax Retail 188

TaxConnex

OCTOBER 12, 2023

A few simple additional steps can head off sales tax risk in an M&A: Determine sales tax nexus. All businesses should review the last 12 months’ sales activity and see if any individual states saw more than $100,000 in sales – a typical nexus threshold nationwide. Review taxability and estimate exposure.

Sales 113

Sales Tax audit tax return 113

TaxConnex

MAY 4, 2021

A physical presence is often seen as your physical office location but can be determined by where your inventory is stored, where employees work or where third-party contractors are utilized, among other criteria. Having either a physical presence or an economic presence can lead to sales tax nexus, or the?connection Physical nexus?means

Sales 246

Sales Tax South Dakota audit 246

TaxConnex

JUNE 7, 2022

Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). Sales tax obligations start with nexus, the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell. The dam breaks.

South Dakota 182

South Dakota Sales Tax Start-ups 182