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Wayfair: A Sea Change in Nexus Analysis
Contains material from Jul 2018
Wayfair: A Sea Change in Nexus Analysis
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The U.S. Supreme Court reversed Quill’s “bright-line” physical presence requirement, substituting instead a case-by-case analysis that focuses less on the remote sellers’ circumstances and more on how the States’ laws and compliance processes may unduly burden remote sellers in general. Learn the anticipated consequences of the Wayfair decision, what to expect from the states, and the pending federal legislation, which, if enacted would provide a set of uniform, nationwide standards to govern reporting by remote sellers. We’ll also review an analytical framework for evaluating remote sellers’ potential compliance obligations in the states where the sell. Then, we’ll discuss scalability of existing IT Systems, required processes for reporting and certificate maintenance, voluntary disclosure, retroactivity issues and financial reporting and disclosure concerns.
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Wayfair: A Sea Change in Nexus Analysis (Jul 2018)
Jimmy Martens
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Session 1
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Wayfair: A Sea Change in Nexus Analysis (Jul 2018)
The U.S. Supreme Court reversed Quill’s “bright-line” physical presence requirement, substituting instead a case-by-case analysis that focuses less on the remote sellers’ circumstances and more on how the States’ laws and compliance processes may unduly burden remote sellers in general. Learn the anticipated consequences of the Wayfair decision, what to expect from the states, and the pending federal legislation, which, if enacted would provide a set of uniform, nationwide standards to govern reporting by remote sellers. We’ll also review an analytical framework for evaluating remote sellers’ potential compliance obligations in the states where the sell. Then, we’ll discuss scalability of existing IT Systems, required processes for reporting and certificate maintenance, voluntary disclosure, retroactivity issues and financial reporting and disclosure concerns.
Originally presented: Jul 2018 Wayfair: A Sea Change in Nexus Analysis
Jimmy Martens, JD, CPA,
Martens, Todd, Leonard & Ahlrich - Austin, TX