Understand different state economic thresholds and how these thresholds affect your tax liability as an e-commerce business.
Most e-commerce businesses know the Supreme Court decision in Wayfair sanctioned a new economic nexus standard for imposing sales and use tax obligations on out-of-state business. Through generic references to taxing Internet sales and relatively simple economic thresholds applicable to the largest e-commerce business, public commentary conveys the sense that this shift to economic nexus is relatively straight-forward. However, many businesses, especially small- and medium-sized businesses, do not know that the different states have established different thresholds for applying economic nexus. These varying thresholds, often dependent on nuances of state law, can present a formidable trap for the wary and unwary alike. This topic will help e-commerce businesses, and their advisors, understand the different state economic thresholds and how these thresholds affect a business's potential tax liabilities. In addition, this material will help identify when, or if, an e-commerce business should begin collecting and remitting state sales and use taxes.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction
- Sales and Use Tax - Overview and History
- Pre-Wayfair Nexus in Two Minutes
- Wayfair and Economic Nexus
Economic Nexus
- Economic Thresholds
- Threshold Time Periods
- Calculating the Thresholds
- Responsible Taxpayer
Marketplace - Fundamental Shift in How the Tax Is Imposed
- Shifting Liability - One Stop Shopping for Revenue Agencies
- Marketplace Defined
- Breadth of Marketplaces in a World of Platforms
Special Issues
- Tribal Taxation
- Destination and Origin Sourcing
- Uniformity and the Undue Burden
- Due Process
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 8, 2020.
Call 1-866-352-9540 for further credit information.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Frank Crociata
GALLAGHER & KENNEDY
- Shareholder in the Santa Fe, New Mexico office of GALLAGHER & KENNEDY and is licensed in Arizona and New Mexico
- Practice focuses on state and local taxation controversies and advice, government affairs, and federal Indian law
- Represents taxpayers in complex sales and use tax, corporate income tax cases involving constitutional limits on state taxation
- Through most of his career, he has represented taxpayers; however, upon gubernatorial appointment, also served as New Mexico’s Tax Policy Director from 2015 through 2017
- J.D. degree, Order of the Coif and an Associate Editor of the Law Review, University of Colorado, Boulder; B.A. degree, Duke University
- Can be contacted at 505-989-7348 or [email protected]
Scott Woody
GALLAGHER & KENNEDY
- Associate in the Santa Fe, New Mexico office of GALLAGHER & KENNEDY and is licensed in New Mexico
- Practice focuses on state and local taxation controversies and advice, and governmental and regulatory affairs
- An active member of the ABA Section of Taxation; and a member of the New Mexico Bar - Taxation Section and the New Mexico Bar - Business Law Section
- LL.M. degree in taxation, New York University; J.D. degree, cum laude, University of New Mexico; M.A. degree in accounting, University of New Mexico; B.S. degree, New Mexico Institute of Mining and Technology
- Can be contacted at 505-989-7299 or [email protected]
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Why Lorman?
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