Overview
This informative self-study webinar will provide a state-by-state breakdown of economic nexus provisions in a Post-Wayfair world. Dillon Tax Consulting President, Mike Dillon, will identify and categorize states within economic and marketplace nexus thresholds. In addition, he’ll review notice and reporting requirements, explain the current status of physical presence nexus, and share potential future developments.
AGENDA HIGHLIGHTS
• What States Have Economic Nexus?
– South Dakota-style economic nexus thresholds
– Other states’ economic nexus thresholds
– Marketplace economic nexus
• Notice & Reporting Requirements
– States with forced compliance
– Severe penalties for non-compliance
– Physical presence nexus
• What Can We Expect?
– Decisions facing remaining states
– Nexus free for all? Patchwork of different standards and thresholds from state to state
– Heightened enforcement of existing nexus laws
– More economic nexus standards—double since Wayfair
– Potential for “virtual” nexus provisions (e.g., cookies)
– States begin taxing more services
– Retroactive application of new nexus laws
– Lower thresholds
– Lawsuits challenging the constitutionality of state nexus provisions
– Congressional action?
– Drop shipments
LEARNING OBJECTIVE To provide accounting and tax professionals with a thorough breakdown of state-specific economic nexus
provisions in a Post-Wayfair world, and a preview of what impacts to expect.
PREREQUISITE Working knowledge of state and local sales tax. ADVANCE PREPARATION None. PROGRAM LEVEL Overview.
NASBA FIELD OF STUDY Taxes. DELIVERY METHOD Self-Study.
Detailed Learning Objectives
• Identify the role of economic nexus before and after the Wayfair decision
• Identify the role of South Dakota’s economic nexus thresholds on other states
• Recognize the states that utilize marketplace nexus
• Identify the state penalties for noncompliance with notice and reporting requirements
• Identify the continuing role of physical nexus
• Recognize the likely state tax environment in the years subsequent to the Wayfair decision