Trends, Traps and What Comes Next in 2021 with nexus at the ABA/IPT Advanced State Income Tax Seminar.
March 17, 2:30 – 3:45 pm during the ABA/IPT Advanced State Income Tax Seminar
Virtual 2021 ABA/IPT Advanced Tax Seminars | March 15, 2021—March 19, 2021
Moderator/Speaker:
Judith B. Vorndran, CPA, Esq. State and Local Tax Partner TaxOps SALT, LLC Golden, CO
Speakers:
William M. Backstrom, Jr., Esq. Attorney/Partner Jones Walker LLP New Orleans, LA
Daniel L. Stanley, Esq. Partner Honigman LLP Lansing, MI
Description
Post-Wayfair, all but two states that impose sales and use tax moved quickly to require sellers to collect sales tax on online purchases, and the last two states are closing the distance. Now, Wayfair is leaking into additional areas as states greedily reach for more. Income taxes are the next frontier, ensuring that state and local tax will continue to be in flux throughout 2021. Getting prepared starts with understanding what’s new. Join this panel of experts as they discuss trends, traps and what comes next with the creeping concept of nexus.
Learning Objectives:
After attending the session, the participant will be able to:
- Describe factor presence – it was here pre-Wayfair • Debate if we are really leveling the playing field with brick and mortar
- Identify new business activities that trigger nexus
- Discuss how laws will vary by state
- Recognize looming compliance threats, if registering for sales tax – and know when to worry about income taxes?
- Explain how PL 86-272 has been affected
- Describe how selling through online Market Place – change to Marketplaces affects income taxes
- Explain how this changes imports and exports with international sellers and customers
- Determine where is the sale: Delivery and distribution: Using drop shipments or third-party fulfillment
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