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Sales Tax in the Post Wayfair Environment

4.6 (280)

Jack Schmoll, CPA

Schmoll CPA PLLC

Friday, April 24, 2020 | 10:00 AM EDT

  • CPA
  • EA

1.5 Credits

FREE

Subject Area

Taxes

Course Description

States have long tried to force out-of-state businesses to collect sales tax but were stymied by Supreme Court rulings that required businesses to have some type of physical presence in a state before being required to collect the tax. States actively stretched the definition of physical presence to create a workaround. This has led to a confusing web of nexus rules that continues to become more complex. 

In June of 2018, the Supreme Court of the US ruled in favor of the state in South Dakota v. Wayfair. In this ruling, the SCOTUS removed the long-standing physical presence requirement and allowed South Dakota to impose nexus if a business’s sales exceeded a dollar amount or a certain number of transactions. Since this ruling, all but a few sales tax states have put similar requirements in place. These so-called, economic nexus thresholds do not replace traditional nexus but add another layer of complexity.
Because of economic nexus, many businesses have to determine if they have nexus in states they never thought much about. If they have nexus, they need to determine if their product is taxable and set up systems to collect and remit the tax. Businesses that have traditionally only filed sales tax returns in 1 or 2 states may suddenly need to collect in dozens of states.

This webinar will help public accountants and those in the industry identify when nexus is created, the steps in determining the taxability of products and services, and the steps in complying with any new collection requirements.

Learning Objectives

  • To recognize the traditional physical presence of the nexus
  • To identify the states expansion of physical presence
  • To recall South Dakota v. Wayfair
  • To identify product or service taxability issues
  • To recognize the complexities of multi-state tax collection and remittance.

Who Should Attend?

  • Accountant
  • Accounting Practice Owners
  • Chief Accounting Officer
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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    [average] => 4.5964
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4.6

(280)
66%
28%
6%
0%
0%