Episode 28: Understanding the Changing Landscape of Tax Collection
In 2018, the United States Supreme Court ruled in South Dakota vs. Wayfair that states can charge sales tax on purchases made from out of state sellers who have no physical presence in the state of purchase. This was a landmark decision with sweeping implications for online sellers. In addition to considering tax laws where your business is based and where your items are stored, sellers now have to consider tax laws where their items are being purchased and shipped.
Since tax laws vary by state, and sometimes even between different counties within a state, this could be a potentially overwhelming situation. A lot has changed and it’s a lot to keep up with. Fortunately, there are ways to simplify this process and ensure that your business is functioning legally in all 50 states.
On this episode you’ll hear:
- How you should be primarily concerned about sales tax as an online seller
- What a Sales Tax Nexus is and how this impacts how you are taxed
- Where your goods will be taxed
- How to get a Sales Tax Permit
- How to collect sales tax from your shoppers on your website
If you’re an online seller who could use an update on the changes in sales tax laws, then this is one episode you won’t want to miss!