What does Economic Nexus Mean for Your Business?

Even though your business might not have a physical presence established in a particular state, you might now be required to comply with local state tax laws and collect sales tax from your buyers.

Almost all States across the US have started to enforce Economic Nexus rules!

This is a significant change to the former nexus standard as your tax obligation might increase with the number of states into which you are transacting into. Keep in mind that mostly every state maintains individual thresholds, which in return dictates your tax obligation on a state level.

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.

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