With the adoption by states of an economic presence standard for determining sufficient tax nexus to establish liability exposure in states your company does business, you need to keep abreast of this expanding area of the state tax law both from a sales and use tax perspective but also from an income tax perspective.

You need to understand your options in not only dealing with nexus exposure but also determinations of what is taxable or tax exempt in a particular state and how to continue to be on top of these issues on a proactive basis.

In addition, in the state income tax context, you need to understand not only the scope of Public Law 86-272 protection, but also its limitations in today's tax cloud business environment. You also need to understand the impact of the Multistate Tax Guidelines that many states - whether members or non-members - follow in determining whether a taxpayer may be subject to tax without a physical presence in a state.

This workshop is designed to provide you with practical approaches to stay proactively ahead of this expanding area of state tax exposure where your business does not have a physical presence in a particular state.What You'll Learn:Definition of Nexus

• Tax Nexus - Why Important
  
• Implications to Taxpayers
  
• Ignorance of Nexus - Asking for a Disaster

Pre- and Post-Wayfair

• Elimination of Physical Presence Requirement
  
• Supreme Court Decision in Wayfair
  
• Scope and Meaning of Wayfair
  
• Possible Legislative Changes
  
• Impact of Current US Supreme Court

Sales and Use Tax Nexus

• Economic Presence
  
• State by State Analysis Required
  
• Objective vs. Subjective Standards
  
• Personal Exposure Issues

Income Tax Nexus

• Public Law 86-272 Limitations/Protection
  
• State by State Analysis Required
  
• Multistate Tax Commission (MTC)
  
• Impact of MTC Guidance

Tax Examination Exposure

• Sales/Use Tax Examinations
  
• Income Tax Examinations
  
• Exposure to Multi-State Examinations
  
• Voluntary Disclosure Options - MTC vs. State by State
  
• Amnesty Programs
  
• Statute of Limitations
  
• Penalty Exposure
  
• Litigation of Nexus Determinations

Addressing State Tax Compliance Issues

• Differences in Approach for Income Tax and Sales Tax
  
• Risk of Taking No Action
  
• Financial Reporting Risks
  
• Need for Regular Nexus Studies
  
• Mitigation of Exposure