State and Local Tax Issues

Free CPA REG (Taxation & Regulation) lesson in Federal Taxation of Entities. 16 min read, ~2,454 words.

Nexus is the connection that lets a state tax an out-of-state business; physical presence (no threshold) and post-Wayfair economic presence both qualify. Wayfair (2018) overturned Quill; economic sales tax nexus thresholds are typically \$100,000 of sales or 200 transactions. P.L. 86-272 shields net income tax for sellers of tangible personal...