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.
Wayfair's reverberating effects have resulted in a complex web of state tax rules that create dangerous pitfalls for the unwary.
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.
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.
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.
This item discusses major changes in New Mexico's corporate income tax and gross receipts tax regime.
Businesses with employees working remotely in a new location as a result of the pandemic should carefully evaluate the rules in those states to ensure proper withholding.
Lack of protections for smaller internet sellers against state-by-state income tax assessments could threaten their very survival.
The regulations provide examples to help taxpayers determine when a seller or facilitator becomes either a “marketplace facilitator” or “retailer” for California sales and use tax purposes and when a taxpayer establishes a tax registration and filing responsibility in California based on its sales activity.
COVID-19 has added to employers' compliance requirements.
The coronavirus pandemic raises several key state tax issues.
New York’s and New Jersey’s different interpretations of situs could result in double taxation.
States have been showing a trend toward taxing an increasing number of services.
This discussion explores a few considerations for taxpayers potentially subject to Oregon's CAT.
Several states have begun extending the economic nexus standard approved in Wayfair beyond sales tax, adopting economic nexus provisions for corporate income taxes.
Businesses can follow this six-step analysis to make sure they cover their bases in complying with new remote-seller sales-and-use-tax responsibilities.
This item summarizes the complexities of a digitalized economy for MNCs and considers the multifaceted implications to U.S. MNCs with respect to financial statements and tax reporting.
Not-for-profits that sell goods or services may find themselves needing to register for sales tax accounts in other states to remain in compliance.
The U.S. Supreme Court recently addressed the circumstances in which a state may levy income tax on a trust that has only minimal connection to the state.
Buyers and sellers must now consider how Wayfair affects M&A tax due-diligence efforts, purchase agreement indemnities, and navigating remediation plans between the parties around prior-period exposures.