As part of the NYS Fiscal Year 2023 budget, effective for tax years beginning in 2022, there are now two classes of S Corporations for purposes of the NY PTET calculation.
As a result of Wayfair, more than 40 states have enacted economic nexus laws to tax out-of-state sellers for sales and use tax purposes.
A sales tax auditor denied a client’s claim; our expertise allowed us to propose a contractor exemption, which NYS approved for the client.
Economic Nexus The Supreme Court issued a 5-4 decision in South Dakota vs. Wayfair, which overturned the “physical presence” standard for determining Sales Tax nexus.… Read More »The Case Against Wayfair and How it Impacts Manufacturers
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