When it comes to sales tax, many people don’t realize that lack of collection and remittance of tax on sales can lead to some pretty hefty penalties, not only civil but in some cases even criminal. If a business discovers that they failed to collect tax in previous years and wants to mitigate past exposure, including the waiver of penalties, both civil and criminal, there are two primary options to achieve this goal.
Read MoreBear with me. My brain saw the word “Kansas” and automatically thought “Wizard of Oz”. There may be a yellow brick road leading small businesses to a safe harbor in Kansas after all!
Read MoreUp until the beginning of this year, only Texas and Pennsylvania required a physical presence for their “income” taxes. Most states have allowed some form of economic nexus for their income tax for years. This stems from the language the U.S. Supreme Court used when they issued their opinion in Quill Corp. v. North Dakota, 504 U.S. 298 (1992).
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