TaxMatrix Launches Free Economic Nexus Calculator
Sep. 13, 2018
MALVERN, Pa.--(BUSINESS WIRE)--Sep 13, 2018--TaxMatrix, a leading sales and use tax consultancy firm, today announced the launch of its Economic Nexus Calculator as part of a new website rollout designed to aid remote sellers deal with the effects of the Wayfair decision.
On June 21, 2018, the physical presence law established by Quill was overturned by the Supreme Court ( Wayfair v. South Dakota ), affecting thousands of companies worldwide that sell into U.S. states by which they have no presence.
Remote sellers include E-commerce, Software as a Service, Mail Order, and essentially any company that may have previously registered in states with a brick-and-mortar or sales agent presence, but sell in other states – online and offline.
The Wayfair decision creates a complex nexus landscape because states do not have to follow the same provisions as South Dakota, the victor in the case. Withstanding state legislation where many states have either passed their own provisions or indicated provisions forthcoming, there are two indicators that trigger economic nexus: sales volume and number of sales transactions per state over a given year.
Companies looking for answers now take a quick and free test to see where they may be exposed by downloading the TaxMatrix Economic Nexus Calculator. The Calculator is an Excel spreadsheet where companies can input their sales volume and number of transactions in a given state to see if they meet the threshold for economic nexus. An additional column (updated when new information is announced) lists the most current date when the state provision takes effect.
“This calculator is a good test for companies, especially when they do not have the resources for sales tax,” said Melissa Myers, VP of Operations, who published a White Paper on the subject. “States have other work-around nexus laws (Click-Through, Marketplace, Use Tax Reporting), so while it presents a snapshot for Economic Nexus, there may be other factors at play to determine whether the Company should file a state registration.”
TaxMatrix can perform Nexus Studies and file State Registrations and Voluntary Disclosure Agreements, in addition to other core services for Audit Defense, Refund Recovery and Custom Tax Matrices. The Company recently launched its S.O.S. ( S ales & Use Tax O utsourced S upport) service for ad hoc tax support on a retainer basis.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180913005206/en/
Mike Espenshade, 610-232-0130
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT PROFESSIONAL SERVICES ACCOUNTING CONSULTING RETAIL
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PUB: 09/13/2018 09:00 AM/DISC: 09/13/2018 09:01 AM