US Sales Tax Nexus Modifications for 2024: What you need to know What You Need to Know

The tax landscape for sales laws is continually changing and 2024 has ushered in important changes that may affect your company. Recent legislative changes have resulted in various states changing their requirements for establishing an nexus for sales tax and could impact how companies operating online deal with tax issues.

Historically, most states have utilized a mixture of sales thresholds as well as count of transactions to determine if companies from outside the state should be required to collect and remit sales tax. But, as of this calendar year Wyoming, South Dakota, North Carolina, Louisiana, and Indiana have dropped the count of transactions aspect of the requirement. Now, the presence of the sales tax nexus will be determined solely by the sales threshold.

 Business Implications of HTML0

This update simplifies nexus requirements, but it also means more businesses might meet the criteria for nexus faster than they had anticipated, based solely on their revenue. It is crucial for businesses -- especially those dealing in digital goods like downloadable software or SaaS products, or streaming games -- to be aware of these changes, since they could have to alter their tax collections and remittance methods accordingly.

 Keeping Track With

Making sense of these tax changes can be difficult, especially for small businesses without dedicated tax departments. This is where can help.

As a merchant of record, the system automatically manages the complexity of sales tax collection and the tax collection process for you. It allows you to concentrate on your business, and not worrying about the intricacies of state tax laws.

Keep up-to-date, remain up to date, and let the experts take care of your ecommerce needs to help you grow your business in security.