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The Latest Development in Sales Tax Policy: Marketplace Facilitator Laws
Posted by Tarra Curran and Ann Brown on Thu, Nov 7, 2019 @ 05:54 PM

It is a well-known fact that states and local governments have been grappling with falling sales tax revenues in recent years. The decline in sales tax revenue is a result of a shift in consumer habits trending towards more frequent online shopping and purchases of personal services. These shifts in purchasing habits directly affect sales tax collections because historically online vendors lacking physical presence were not subject to state sales tax requirements. Furthermore, services are typically not subject to sales tax.

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Topics: Tarra Curran, State tax, Sales Tax, sales and use tax, state and local tax (SALT), new england state and local tax, SALT cap tax, Ann Brown

Understanding the Post-Wayfair Tax Landscape
Posted by Tarra Curran on Fri, May 24, 2019 @ 11:43 AM

On June 21, 2018, the U.S. Supreme Court ruled in favor of South Dakota in the widely-watched South Dakota v. Wayfair case. This ruling overturned the long-held precedent of Quill Corp. v. North Dakota, which stood for the proposition that a state could not impose a collection requirement on a retailer unless that retailer had a physical presence in the state.

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Topics: Tarra Curran, economic nexus, Sales Tax, The Massachusetts Department of Revenue, sales and use tax, tax nexus, new england state and local tax, Wayfair, South Dakota vs Wayfair, Rhode Island Department of Revenue

How Wayfair Changed Sales Tax Collection in New England
Posted by Tarra Curran on Thu, Dec 6, 2018 @ 02:55 PM

In June, the Supreme Court ruled that a taxpayer’s economic activity could be used as the standard for whether a taxpayer owes state and local taxes. The decision in Wayfair v. South Dakota opened the door for states to collect sales taxes on remote retailers with substantial in-state activity. Prior to the decision, states followed the physical presence standard to determine whether a taxpayer would be subject to state and local taxes.

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Topics: Tarra Curran, economic nexus, Sales Tax, The Massachusetts Department of Revenue, sales and use tax, tax nexus, new england state and local tax, Wayfair, South Dakota vs Wayfair, Rhode Island Department of Revenue

Wayfair Decision and the Impact on the Sales Tax Collection Process for Portfolio Companies
Posted by Tarra Curran on Fri, Aug 24, 2018 @ 02:34 PM

The Supreme Court recently ruled that a physical presence in a state is not required for a state's sales and use tax requirements. In response to South Dakota vs. Wayfair (Wayfair), states are rapidly updating their policies to collect state sales taxes from companies that conduct business remotely.

Private equity and venture capital firms and their portfolio companies should be aware of the potential impact the Wayfair decision could have on their existing sales and use tax collection, remitting and reporting processes.  

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Topics: Tarra Curran, economic nexus, Sales Tax, sales and use tax, tax nexus, Wayfair, Private equity, South Dakota vs Wayfair, ASC Topic 450, Private Equity & Venture Capital

State Tax Implications of Federal Tax Reform
Posted by Tarra Curran on Fri, Mar 9, 2018 @ 08:23 AM

The recently enacted tax reform legislation represents the most significant change to federal tax law since 1986. But while much of the focus has been on the direct effect of the new federal provisions, there are major indirect implications for state income taxes as well.

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Topics: Tarra Curran, Taxes, Massachuetts, Tax Cuts and Jobs Act, TCJA

Rhode Island Taxpayers Have Relief for Overdue Taxes
Posted by Tarra Curran on Wed, Dec 13, 2017 @ 03:40 PM

Roughly 90,000 taxpayers in Rhode Island have a significant tax relief opportunity available to them. That’s the estimated number of taxpayers who owe the state taxes, and Rhode Island is offering a tax amnesty period to assist taxpayers with becoming compliant.

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Topics: Tarra Curran, Tax amnesty program, Rhode Island, Overdue taxes

There’s Relief for Overdue Taxes in Rhode Island
Posted by Tarra Curran on Wed, Oct 11, 2017 @ 01:28 PM

Tax amnesty programs provide significant benefits for businesses and individuals, particularly if they had previously unknown state and local tax liabilities. Uncollected taxes are subject to fines and other late payment penalties. They also accrue interest, so if unpaid taxes go back several years, it could be a significant cost. Taxpayers with overdue Rhode Island tax obligations may be able to get a reprieve on what they owe.

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Topics: Tarra Curran, Tax amnesty program, Rhode Island, Overdue taxes

Massachusetts Passes New Internet Sales Tax Requirements
Posted by Tarra Curran on Wed, Sep 27, 2017 @ 06:26 PM

Massachusetts recently updated its sales and use tax requirements for vendors making online sales. Rules in 830 CMR 64H.1.7 clarifies which out-of-state businesses would be required to register, collect and remit state sales or use tax for their online sales to state residents. The state issued the changes in part to keep up with the changing retail landscape, which increasingly involves online transactions from businesses without brick-and-mortar locations within the state.

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Topics: Tarra Curran, Massachusetts, Taxes, nexus, tax nexus, Out-of-State Taxes

Rhode Island Updates Out-of-State Sales Taxes
Posted by Tarra Curran on Thu, Aug 24, 2017 @ 05:59 PM

On August 3, 2017, Rhode Island passed the Non-Collecting Retailers, Referrers and Retail Sale Facilitators Act, which imposes new nexus requirements on e-commerce with state residents. The act took effect on August 17 and requires businesses that meet the definitions of non-collecting retailers, referrers or retail sale facilitators to collect sales and use tax from Rhode Island customers or meet new notice and reporting requirements.

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Topics: Tarra Curran, Taxes, nexus, tax nexus, Rhode Island, Out-of-State Taxes

Nexus for Hire
Posted by Tarra Curran on Thu, Feb 23, 2017 @ 11:40 AM

Advances in technology have made it feasible for small to midsize businesses to carry on national and even international operations from a remote location. Not surprisingly, these remote businesses typically rely on a wide variety of independent contractors and other third-party service providers to perform services for out-of-state customers. Although the use of independent contractors may be helpful or even necessary from an operational standpoint, it may bring about unwanted nexus issues. A business that uses an independent contractor in a state may create a sales and use tax collection/reporting responsibility in that state.

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Topics: Tarra Curran, nexus, tax nexus, income tax nexus, Contractor

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