New York – State Sets Confusing, Retroactive Sales Tax Policy

If businesses in other states are unsure whether they need to register to collect New York State sales tax, the most recent information published by the New York State Department of Taxation and Finance leaves no room for doubt: “If you are a business that meets [the economic nexus] threshold, but has not yet registered as a vendor, you should do so now.”

The department’s been playing catch-up with the whole remote sales tax issue since the Supreme Court of the United States overruled a physical presence rule in South Dakota v. Wayfair, Inc. (June 21, 2018). New York waited until January 2019 to publicly comment on the decision and then stated Wayfair enabled it to tax remote sales “immediately.”

“Immediately” was widely interpreted to mean as of June 21, 2018.

For The Full Story: CPA Practice Advisor

cpa practice advisor
by gail cole
december 9, 2019