Expanded State Tax Duties for Businesses: Sales and Income Tax, Navigating New State Compliance Challenges

Wayfair Impact on Income Taxes; Economic Nexus Exemptions; Retroactive Tax Collection on Out-of-State Sellers; The Home Rule

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Wednesday, October 7, 2020

Recorded event now available

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Course Materials

This course will provide tax professionals and advisers an in-depth analysis and guidance for navigating the continued expansion of state tax duties and compliance for businesses. The panel will discuss the post-Wayfair landscape updates and how states have opened new and broader tax pipelines. The panel will also discuss small-seller economic nexus exemptions, retroactive tax collection on out-of-state sellers, marketplace facilitator updates, Home Rules, and streamlined sales tax efforts by some states.

Description

Evolving state tax laws and regulations have expanded the tax duties for businesses forcing them to shoulder growing tax bills to pay for business disruptions to the economy. Tax professionals must recognize how states expand, demand, and open new and broader tax pipelines to avoid any unintended tax implications for noncompliance.

The landscape of state taxation post-Wayfair and amid the pandemic continues to expand with states implementing new tax rules and regulations to get more money and replenish budgets depleted by COVID-19. Tax professionals and advisers must now identify key state tax issues involving small-seller economic nexus exemptions, marketplace facilitator updates, the continuance of the Home Rule taxes in states like AL, CO and LA, and the impact of Wayfair on income and other taxes.

Also, some states (California and South Carolina) impose retroactive tax collection on out-of-state sellers. Others are working on streamlining sales tax efforts (SST, MTC, Alaska, and Colorado). But, the flip side to the tax grab offers businesses the prospect of some longer-term relief, as state and local jurisdictions continue their work to find ways to simplify sales tax collections.

Listen as our panel discusses the post-Wayfair landscape and provide updates on how states are opening new and broader tax pipelines.

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Outline

  1. State tax compliance challenges and recent updates
  2. Streamlining sales tax efforts: SST, MTC, Alaska, Colorado
  3. Retroactive tax collection on out-of-state sellers
  4. Marketplace facilitator liability
  5. Home Rule
  6. Wayfair impact on income and other taxes

Benefits

The panel will discuss these and other key issues:

  • What are the latest state tax laws and regulations that expand the tax duties of businesses?
  • What are the latest updates for marketplace facilitator liability?
  • What is Home Rule and how has it impacted state tax compliance?
  • What states impose retroactive tax collection on out-of-state sellers and what are the compliance obstacles?
  • What are some of the streamlined sales tax efforts and compliance best practices for taxpayers and tax professionals?
  • What impact does Wayfair have on income and other taxes?

Faculty

Roberts, Stacey
Stacey L. Roberts, CPA
State and Local Tax Director
TaxOps

Ms. Roberts has been making SALT less taxing for thousands of businesses over the last 25 years. As a director of the...  |  Read More

Vorndran, Judith
Judith B. Vorndran, JD, CPA, MSBA
Partner
TaxOps

Ms. Vorndran helps clients and tax professionals navigate the morass of state and local tax issues with the goal of...  |  Read More

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