News / Article

States moving fast on economic nexus standards

Source: - May 16, 2019

The 19th annual Bloomberg Tax Survey of State Tax Departments found that states with an economic nexus standard for sales tax more than doubled over the last year in the wake of the Supreme Court’s Wayfair ruling. Thirty-three states responded that they now have an economic standard in place for sales tax nexus. Six states said they have an economic nexus standard that is not currently being enforced due to the legislation’s effective date or pending litigation.

Nexus is the minimum amount of contact between a taxpayer and a state allowing the state to tax a business on its activities or require it to collect and remit sales tax.

click source to read article

Category: General Business