As nexus barriers continue to get knocked down, businesses are being subjected to taxes in more and more states. The exposure faced by those who are unable to comply can be severe. Following the seminal U.S. Supreme Court decision in South Dakota v. Wayfair, states are now able to force remote vendors and marketplace facilitators to collect sales tax. Tax professionals must recognize how states expand, demand, and open new and broader tax pipelines to avoid any unintended tax implications for noncompliance.
Furthermore, these businesses are likely also subject to business activity taxes in these states. Pass-through entities and their owners in particular face difficult state tax complexities. This course will examine where businesses are subject to state taxes and how to minimize compliance burdens. Federal P.L. 86-272 provides protection for certain businesses selling tangible personal property, but is not available for service providers. Finally, attendees will learn which states conform with federal income tax provision and where decoupling exists. This webinar would cover :
- Planning opportunities to help & advise clients
- Determining when sales tax must be collected by remote vendors, marketplace facilitators, and Software-as-a-Service providers
- Nexus considerations for state business activity taxes
- Federal protection from net-income based taxes under P.L. 86-272
- Taxation of pass-through entities and their owners
- How voluntary disclosure agreements and amnesty programs can absolve past tax delinquencies and facilitate future compliance