Where has the time gone?! Can it really be 5 years since the momentous 2018 South Dakota v. Wayfair Supreme Court decision that permitted states to impose economic nexus? Companies of all sizes and industries have grappled with the ongoing attention and maintenance managing sales tax nexus requires.
Nexus–the level of connection your business has with a taxing jurisdiction–is the most critical concept in sales tax. Without nexus, a taxing jurisdiction cannot impose its sales taxes on you.
Not keeping up with how changes in state rules or changes in your own business impact your nexus obligations expose you to more risk should an audit arise.
This webinar will share how the Wayfair decision is still affecting the sales tax landscape for businesses and what impacts we should still expect for the future (including adjustments states are making). We will address how the lingering impacts will greatly determine the next phase for sales tax in business so you can confidently prepare for changes and stay compliant.
Who should attend?
This webinar is essential for remote sellers, including online sellers, online marketplace sellers, and sellers making sales into multiple states.
Financial and operations personnel who deal with sales and use tax as part of their responsibilities will also greatly benefit from this webinar. General practitioners, with minimal to no experience all the way to highly experienced pros are appropriate for this course.
The U.S. Supreme Court decision in South Dakota v. Wayfair and its lasting impacts are a game changer for essentially any business making sales. Will the Federal Congress get involved in the economic nexus “game”? The Senate Finance Committee held a hearing discussing the burden the Wayfair decision through state legislation places on small sellers. Our own Diane Yetter was on the panel and provided testimony about the challenges businesses face in determining what the specific rule is that applies in each state. The Government Accounting Office (GAO) in their report published late 2022 reinforced the complexity and resulting burdens.
States continue to fine tune previously passed nexus legislation and rules, especially in light of the interplay between economic nexus, marketplace nexus (or marketplace facilitator rules), and physical nexus. Modifications to economic nexus thresholds, rules about including/excluding marketplace sales, and new implications for where you have inventory are just a few of the changes that have popped up post-Wayfair for multistate sellers to deal with. South Dakota is the lastest state that has recognized the burden that the 200 transaction count threshold places on the smallest of sellers. Effective July 1, 2023, this part of the South Dakota economic nexus threshold will be dropped. The state hopes other states will follow their lead.
The strategies and systems you have in place to manage sales tax must be able to handle continual change in the sales tax landscape and changes in your business. This is especially important as states are getting more aggressive in their enforcement of nexus laws through audits. You cannot assume that you can fly under the radar any longer.
This webinar will provide a full rundown of the future of sales tax five years after Wayfair decision so that your business can stay compliant.
Your Teaching Staff
This 90-minute live webinar is taught by a strategically coordinated group of sales tax experts, Craig Johnson of Streamlined Sales Tax Governing Board, Inc, Jamie Szal of Brann & Isaacson, Fred Nicely of the Council on State Taxation, and Diane Yetter of the Sales Tax Institute. They will share a look into the future of sales tax five years after Wayfair to help you understand what to expect as well as dig into the practical issues and questions businesses run into with economic nexus. They will explain nexus trends across the states and how to develop an ongoing maintenance strategy to keep your company current and compliant.
During the live Q&A portion of the webinar, you can get answers to your specific sales tax questions directly from the experts.
Webinar attendees can earn 1.5 hours of CPE credit in the “Taxes” field of study
Prerequisites: This course requires no prerequisites or advance preparation.
Program Level: Basic
Delivery Method: Group Internet-Based