Tax Compliance for Manufacturers: Understanding Today’s Regulatory Landscape
February 19 @ 13:00 - 14:00 CST
It is well known that sales tax liability is dictated by state nexus laws. It is also fairly well known that these laws changed significantly after the Supreme Court ruled in favor of the state in last year’s "South Dakota v. Wayfair, Inc.” case.
What is not as well-known is how these changes have affected the manufacturing industry – an industry whose members often have both exempt and non-exempt transactions.
These changes consist of:
- Nearly all states with state sales tax now have economic nexus laws.
- More than 80% of states with state sales tax now have marketplace facilitator laws.
- Cross-border ecommerce sales are forecast to reach $1T this year. By 2022, cross-border ecommerce sales could account for more than 15% of the world’s online retail market.
Attend this session to learn:
- How to assess whether you have economic nexus in various states
- How exempt and non-exempt transactions impact nexus thresholds
- How drop shipments are impacted by the new rulings
- How your business may qualify for free services for determination & filing
- How automation helps maintain compliance as rules continue to change and your business grows