If Wayfair, Inc. is successful, what do you tell remote sellers?
The impending decision by the Supreme Court on economic nexus could impact many remote sellers. Tax expert and Partner at Peterson Sullivan LLP, Rachel Le Mieux, CPA, CMI, gives her advice to companies should South Dakota win in its case against online retailer Wayfair, Inc.
"If Wayfair is successful in its Supreme Court case against South Dakota, CFOs are still going to have to be very diligent in what they do in terms of protecting their companies and collecting sales tax where appropriate. Just because Wayfair may prevail doesn’t mean that other states are going to continue to impose laws that are going to require you to collect sales tax. So you have to be diligent. In order to sleep at night, you’ve got to make sure that your company is protected. Whether you’re a large company or a small company, the states are going to continue to go after you in order to get their sales tax dollars on internet sales made into their state."