Changes in Sales Tax Requirements for Businesses

Weaver: Beyond the Numbers · May 2, 2023 · 9m

In 2018, a Supreme Court ruling in the case of South Dakota v. Wayfair opened the door for states to implement a sales tax on remote sellers based on the sales amount even if the seller is not physically present in the state. Many companies with multistate sales are only now learning about their tax obligations under new state laws that have been enacted since the Supreme Court ruling. To avoid penalties and additional tax liability, companies with multistate sales must understand their exposure to economic nexus through remote sales and take steps to comply with their reporting and tax…