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Michael Colavito, a director in the state and local tax practice of Aronson’s Tax Services Group, was a presenter for the Praxity webinar, “Navigate Your Way in the Wayfair Fallout,” on Thursday, May 23rd.
The U.S. Supreme Court has abandoned 50 years of sales tax nexus precedent with its South Dakota v. Wayfair decision. States may now impose sales tax registration, collection, and documentation responsibilities on sellers without a physical presence in the state. In fact, merely having customers in the state where those sales exceed a threshold level of sales dollars or number of transactions can give rise to sales tax nexus.
Hosted by State & Local Tax (SALT) Praxity Firms, this webinar examined the Court’s majority and dissenting opinions, explained what it means to all sellers (not just retailers), reviewed which states have already adopted economic nexus laws or regulations, and explored the possibility of U.S. Congress enacting a uniform national standard to regulate the states, as authorized by the U.S. Constitution Commerce Clause.
At the conclusion of this session, participants were able to:
- Describe the history of the former physical presence nexus standard.
- Explain the USSC ruling in South Dakota v. Wayfair and how it impacts remote sellers.
- Describe how states have reacted to the Wayfair decision over the past year and how Congress might react.
Through Aronson’s affiliation with Praxity, we can work seamlessly across international borders to meet every client need. Praxity is the world’s biggest alliance of independent accountancy and consulting firms and its 7th largest accounting association.On-Demand Webinar