How South Dakota v. Wayfair Could Affect Contractors
States are becoming more and more aggressive in their pursuit of sales and use tax nexus and forcing vendors to collect their tax. This could affect businesses in many different industries, from internet retailers to construction contractors. A sales/use tax case only seems to reach the US Supreme Court once every 25 years. So, when it does, it has a tremendous impact on commerce. The US Supreme Court recently heard such a case, South Dakota v. Wayfair.
What’s going on in South Dakota v. Wayfair?
South Dakota tried to force vendors to collect their tax if sales in their state exceed $100,000 or consisted of 200 or more transactions. States have established similar laws recently trying to “encourage” companies to register to collect their tax, even though, based on current law, these laws are considered unconstitutional.
Find out how this case could affect the construction industry.
The post Real Estate and Construction Newsletter June 2018 appeared first on Anders CPAs.