Significant Sales Tax Changes Due to the South Dakota v. Wayfair Decision
We are pleased to provide this whitepaper outlining some of the significant changes that recently occurred in the U.S. due to the South Dakota v. Wayfair decision rendered by the Supreme Court. This whitepaper also includes a general discussion on the imposition and reporting requirements of sales taxes in the U.S.
The Wayfair ruling imposes an increased burden on companies to comply with individual states reporting requirements for sales tax, and many people believe that income tax reporting will follow. The Wayfair case allows states to impose their sales tax rules on out-of-state entities, including entities located outside of the U.S., for sales made to residents of their state, even if they do not have a physical presence in the state to follow. Prior to the Wayfair decision, states were bound to a physical presence test.
We hope that this whitepaper is beneficial and it provides a useful summary of the sales tax provisions to take into consideration when your clients want to do business in the U.S. As always, we are available to answer any of your questions and look forward to working with you. Please contact Robert Hoberman directly with any questions or if he can assist you.