State and Federal Tax Code Changes - How to Comply
- Jan 07, 2020 11:00 AM – 12:00 PM
|Fee||Type of Fee|
|No Charge||MBI Members Only|
Presenter: Chris Gallo, BerganKDV – Cedar Rapids, IA
In July 2018, the Supreme Court ruled in the case of South Dakota vs Wayfair that states can now require any business selling across state lines to collect and remit applicable state sales tax. This overturned the common understanding that nexus was based on physical activity in the state and created what is now known as economic nexus. Each state now has its own economic nexus standards which has created new compliance requirements for nearly all businesses. In addition, states have created new tax laws and have begun auditing businesses located in other states. Iowa changed many of its laws and requirements as well. This informative webinar will discuss the recent changes in sales tax code and compliance procedures, both in Iowa and nationally.