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When the South Dakota v. Wayfair, Inc. decision took place, nearly every state started to adopt to new sales tax nexus requirements, including Michigan. The state enacted Revenue Administrative Bulletin 2018-16 (RAB 2018-16), which addresses economic nexus and how Michigan sales and use tax nexus standards changed. We have outlined several of the major points […]
The Virginia sales tax nexus requirements changed in 2019, following the South Dakota v. Wayfair, Inc. decision. The Commonwealth passed its own legislation to specify how remote sellers or marketplace facilitators have economic nexus, but it essentially opted to replicate the specifications outlined in the Wayfair decision – as did many other states. Even so, […]
When the South Dakota v. Wayfair, Inc. decision was made, remote businesses needed to take note of how states and territories were requiring the collection and remittance of sales tax. The District of Columbia economic nexus was also impacted, with D.C. adopting requirements in line with South Dakota’s, which were laid out in the Supreme […]
Course Offering Spotlight In this week’s course offering spotlight, we are highlighting another one of Sovos’ regularly offered courses, Schedule P Preparation. This course teaches you how to complete schedule P of the annual statement and understand its analytic value. In our upcoming Sovos Insurance Regulatory Summit 2020, we will be offering a session on […]
This year has brought change to the Illinois sales tax nexus rules. In addition to the South Dakota v. Wayfair, Inc. decision, collection obligations changed for marketplace and remote sellers on January 1, 2020. Two new laws expanded nexus in Illinois to include marketplace facilitators, which “are required to register to collect and remit Illinois Use […]
Many states have started making changes to how they collect and remit state and local sales tax following the South Dakota v. Wayfair, Inc. decision. However, the New York economic nexus changed more quickly than others. New York made its enforcement date June 21, 2018 – the same day as the Wayfair ruling. The state […]
Since the South Dakota v. Wayfair, Inc. decision, nearly every state has adopted sales tax economic nexus changes. However, Florida has not yet made any such changes. The Sunshine State has no remote sales tax law and does not have income tax. Some lawmakers proposed legislation that would require remote businesses with sales in Florida […]
The South Dakota v. Wayfair, Inc. decision made waves in the sales tax nexus world, with ripples being felt in every state. The Texas sales tax nexus rules were no exception, and all businesses operating in the Lone Star State – remote organizations and those with a physical presence – must ensure they stay compliant. […]
It is essential that California businesses – both those operating remotely and that have a physical presence in the state – understand and adhere to all sales tax nexus laws, especially when and if the laws change. Failure to comply with these obligations could impact how businesses properly collect and remit taxes, leading to audits […]
Should we move our tax engine to the cloud or keep it on-premise? This conversation is taking place in many organizations as they assess their approach to sales tax management. In this three-part series, we’ll explore some of the problems IT is working through to maintain on-premise solutions that may not always be visible to […]
With more than 50-years helping professionals succeed in their career, our Sovos Booke regulatory team is known and trusted throughout the insurance industry and is the premier compliance destination for information and emerging trends in tax, regulatory reporting and compliance. Our team of educators share their knowledge and experience to teach the nitty-gritty of insurance […]
Tuesday, October 6 CEO Keynote: Our Journey to Solve Tax for Good | Andy Hovancik, President & CEO, Sovos GCS Intelligent Reporting kicked off with our Sovos CEO, Andy Hovancik, sharing more on what attendees can expect to get from this year’s event and helping attendees better understand Sovos’ mission to “Solve Tax For Good.” […]
Sovos’ Global Compliance Summit – Intelligent Reporting “Speaker Spotlight” Series continues with an introduction to another brilliant tax expert who is particularly knowledgeable in the cryptocurrency industry. In this segment, we welcome Roger Brown of Lukka, who will be presenting at our upcoming conference in early October. Roger will highlight the anticipated OECD developments involving […]
This blog was updated on July 13, 2022 The National Association of Unclaimed Property Administrator’s (NAUPA) III format for unclaimed property has been in the works for a while now, and the first draft was scheduled to be published on July 5, 2022. Upon checking NAUPA’s website on July 5, 2022, the following message was […]
Sovos’ Global Compliance Summit – Intelligent Reporting “Speaker Spotlight” Series continues with the introduction to an award-winning subject matter expert on tax in the Cryptocurrency industry. In this segment, we welcome Sheehan Chandrasekera of Cointracker, who will be attending & presenting at our upcoming conference in early October. In this segment of the “Speaker Spotlight” […]
Sovos’ Global Compliance Summit – Intelligent Reporting “Speaker Spotlight” Series kicks off with the introduction to two brilliant women in the world of tax, Kelli Wooten of KPMG LLP and Susie Jensen of Zions Bancorporation, who will be attending & presenting at our upcoming conference in early October. These two professionals are particularly well-versed in […]
The 2020 tax information reporting season is rapidly approaching and the changes we know about so far are pretty complex. A primary example lies in the new Form 1099-NEC which was reintroduced by the IRS last fall and is required to be used for reporting 2020 nonemployee compensation payments (formerly reported in Box 7 of […]
The 24 member states of the Streamlined Sales Tax™ Governing Board recently met in a special session to consider a proposed new contract with designated Certified Service Providers™ (CSP’s), including Sovos. The contract was voted on favorably, 23 – 1. The new contract kicks in on January 1, 2021. The new contract means that existing […]