Multistate Taxes in a Post-Wayfair World: Update on Sales and Income Tax Nexus (Completed)

The U.S. Supreme Court's decision in South Dakota v. Wayfair drastically changed the rules governing when a state could require an out-of-state business to comply with its sales tax laws. In response, nearly every state that imposes a general sales tax has enacted new rules to adopt and impose an “economic nexus” standard for sales tax compliance purposes. And while the concept of “economic nexus” has been around for several years in the corporate income tax world, this concept now permeates and has broadened nearly all aspects of tax compliance. During this webinar we’ll discuss the significant overlap, as well as the stubborn distinctions, between nexus rules for income tax and sales tax purposes. And we will review key recent developments in multistate income and sales tax compliance.

Join Hodgson Russ LLP for a seven week Tax Series covering the most important New York State Tax Issues of 2020. Hodgson Russ’s experienced tax attorneys will provide insight into some of the most critical tax issues today, including what’s happening in state tax after the Wayfair decision, the impact of the COVID-19 and TCJA, New York State law changes and residency hot topics.

Who Should Attend
Financial professionals such as CPAs, CEOs, CFOs, COOs, corporate counsel, and tax and financial advisors.

Topics Covered

• Discuss the significant overlap, as well as the stubborn distinctions, between nexus rules for income tax and sales tax purposes
• Review key recent developments in multistate income and sales tax compliance

Learning Objectives

• Differentiate between both the overlap and distinctions between nexus for income and sales taxes
• Recognize the current "economic nexus" rules in all 50 states for both sales and income tax
• Identify commonplace nexus traps and implement strategies for avoiding them
• Describe telecommuting and mobile workforce rules and their implications for businesses, especially in light of COVID-19 "work-from-home" orders
• Identify and apply practical strategies for satisfying multistate compliance obligations in this new nexus paradigm

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None