Description
Join us for your compressive guide into the Streamlined Sales Tax Project and its impact on income and franchise taxes.The Streamlined Sales Tax Project (SSTP) is an effort by state representatives to implement a national uniform, simplified system of sales and use tax compliance. The Simplified Sales and Use Tax Agreement (SSUTA) is an agreement developed through the Streamlined Sales Tax Project. After more than five years of their efforts, the SSTUA came into effect on October 1, 2005. Currently, there are 23 full member states and one associate member state. The overall benefit of doing business in a SSTUA member state is reduced tax compliance costs because member states use the same product definitions, sourcing rules and methods to determine tax rates. On June 21, 2018, the Supreme Court of the United States ruled in favor of the state in South Dakota v. Wayfair, Inc. overturning the 1992 Quill Corp. v. North Dakota Court Case. This decision allowed states to tax remote sales and introduces an economic based nexus standard for sales tax.
Date: 2019-05-07 Start Time: End Time:
Learning Objectives