Economic nexus is a new concept for sales tax although it has been around for a while now. for income tax and other types of taxes. Two Supreme Court cases made rulings on sales tax where one said you had to have some sort of physical presence in order to create a link with a State and that State could then require you to collect or pay its taxes. Then the other on June 21 2018 said that there's no need for physical presence for the State to require you to collect its sales tax, bringing up the concept of economic nexus.
So what exactly is an economic nexus? Michael Fleming has all the answers.
Michael is the Founder of Sales Tax and More and is one of the country's leading authorities for sales tax issues such as consulting and research, registrations, returns, nexus, drop shipping, eCommerce, and service providers. He is a writer, speaker, and regularly presents on webinars, and he also hosts his own podcast where he shares his wisdom and learnings to his audience in order to help them navigate the tricky world of taxes.
In this episode, Michael Fleming is flipping the script as he answers questions posed by Dr. Jeremy Weisz, a seasoned podcast host himself, as they talk about the concept of economic nexus, its impact in different States, and the cost of non-compliance for businesses.
