Help accounting students understand how public business entities incorporate state income taxes into the income tax provision with a detailed example.
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Nexus
Multistate corporate income taxes: An exercise in nexus and apportionment
This case study can provide practical instruction to students and entry-level accounting staff in key issues of state corporate income tax.
P.L. 86-272 and the evolution of nexus in the digital age
This long-standing federal law limiting state nexus faces fresh headwinds as online purchases of goods and services now predominate.
Is Illinois’s sales tax playing field really level?
A lawsuit alleges that Illinois’s effort after Wayfair to make its sales tax regime fairer for in-state retailers unconstitutionally discriminates against remote retailers.
State income tax considerations for non-US corporations
Foreign corporations operating in the United States need to be aware of state income tax rules, including those involving nexus, determining state taxable income, and filing methods.
ASC Topic 740 and state taxes continue to require due diligence
Properly accounting for state income taxes in financial statements has become more complex due to changing tax rules and business evolution.
A cautionary tale: Challenges for firms in Wayfair compliance
Lessons can be learned from an accounting malpractice lawsuit alleging failure to advise a client about Wayfair.
Multistate businesses: What to do when state tax apportionment rules are unfair
Taxpayers may request an alternative method if they believe standard apportionment is not equitable in their situation.
South Dakota v. Wayfair — five years later
The expected and unexpected tax impacts of the landmark Supreme Court decision have increased the complexity of sales tax compliance for taxpayers.
State tax considerations for financial institutions
This item identifies key state and local tax considerations financial institutions should timely review to be compliant and avoid traps for the unwary.
States’ reactions to MTC’s application of P.L. 86-272 to internet sales
The Multistate Tax Commission’s recent revision of its interpretation of P.L. 86-272 and corresponding state positions require remote sellers to reexamine their income tax nexus.
Fulfillment by Amazon program does not create nexus with Pennsylvania
Merchandise held by Amazon in a Pennsylvania warehouse under a fulfillment program does not create Pennsylvania nexus for a nonresident retailer.
Senate Finance airs post-Wayfair sales tax burdens
Small business owners describe scrambling to comply with varying sales tax compliance rules across a welter of jurisdictions.
A review of Multistate Tax Commission’s statement on how P.L. 86-272 applies to internet sales
The MTC approved a revision to its “Statement of Information Concerning Practices of the Multistate Tax Commission and Supporting States Under Public Law 86-272,” which added a section on activities conducted over the internet.
Remote work creates a spectrum of state and local tax issues
The COVID-19 pandemic is forcing businesses to reevaluate tax obligations as the proliferation of remote working raises a broad array of state and local tax issues, including nexus, apportionment, compliance, and financial statement reporting.
The state of economic nexus
Wayfair’s reverberating effects have resulted in a complex web of state tax rules that create dangerous pitfalls for the unwary.
Three years after Wayfair: Future impact and lingering issues
State efforts to streamline sales and use tax reporting could significantly reduce burdens imposed on small businesses in a post-Wayfair environment.
— and also result in
better compliance
and increased
revenue.
New Illinois and Chicago tax rules pose challenges
With new nexus rules, many retailers and other businesses are now facing an array of Illinois tax collection scenarios that may challenge their existing tax compliance systems.
New Mexico’s gross receipts tax: Round 2 of changes
This item discusses major changes in New Mexico’s corporate income tax and gross receipts tax regime.
In Texas, the rules of the game have changed for sourcing of receipts
As amended, Administrative Rule Section 3.591,
Margin: Apportionment, significantly revises the rules for sourcing receipts to Texas, and almost all taxpayers, particularly those engaged in service industries, will be affected by the changes.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
