Product Demo: Economic Nexus Dashboard
Gone are the days when businesses were obligated to file and remit sales tax only if they had a physical presence in a state. The Supreme Court ruling in South Dakota v. Wayfair, Inc. paved the way for tax obligations to be triggered by economic activity alone, also. Tax obligations due to economic activity (also known as economic nexus) can be based on sales revenue, transaction volume, or a combination of both. More than 40 states have economic nexus laws and it can be challenging for businesses to understand which ones apply to them. Fortunately, Avalara monitors the business activities of its customers and alerts them when they’re about to trigger an obligation in states where they’re not collecting sales tax. This video explains how.
Click here to access the most current map of states that have passed economic nexus laws.