Understanding your Economic Nexus FootprintBy Tom WeissSeptember 6, 2019
To stay compliant with Economic Nexus laws across states is no easy task by all means.
There are literally hundreds of forms to be aware of and complex rules to understand, digest and apply correctly.
Essentially, you will have to be aware of all applicable state tax laws pertaining to exemption handling to ensure accurate rules are applied towards thresholds. A good first starting point to tackle this challenge is to understand your potential Economic Nexus footprint.
Try our Free Economic Nexus Test to see in what State you might qualify for Economic Nexus.
Once you understand your potential economic nexus footprint, it is advisable to use a suitable platform to help you stay compliant.
This can be the most effective and cost competitive approach. More businesses are streamlining their tax support to a Software as a Service (SaaS) provider to reduce the cost of their in house compliance handling.
The best way to minimize your tax obligation is to ensure you collect and validate all of your tax exemption certificates accurately and renew them on time. Consider partnering up with a tax service provider who fits your business needs in terms of usability, cost and commitment.