With nexus, things get tricky
With the advent of ecommerce and a vast array of national distribution networks available, selling your products and services across state lines has never been easier. But if your business activities in another state reach a certain point, you could face interstate tax issues for which you need to be prepared.
When it comes to out-of-state tax liability, the key issue is “nexus.” This is the term states use to indicate that your business presence in another state is substantial enough to subject you to their tax rules and obligations.
So what creates nexus? This is where things can get tricky. Each state may approach nexus a little differently. But there are some commonalities. If you employ workers or own (or even lease) business property in a given state, for example, you likely have nexus there.
On the other hand, the mere existence of a minimal amount of business activity may not create nexus.
The idea of being taxed in another state may seem a bad thing. But it”™s not necessarily a disadvantage.
First, you can generally avoid multiple taxation on the same income by apportioning your income among the states in which you”™re subject to taxation. In fact, most states require that you do so ”“ though the factors they use to calculate taxation and how those factors are weighted, may vary.
Second, you may be able to turn this apportionment to your advantage. For instance, Connecticut has a relatively high corporate income tax. By expanding your operations into states with lower corporate income tax rates, you might be able to trigger nexus and lower your tax bill by allocating some income to the less-taxing states.
Three ways to get help
Interstate taxation is complex. To get a clearer picture of your situation, you can:
Ӣ Undertake a nexus study. Under this process, your advisor will seek to identify the taxes to which current or prospective business activities may expose you and help determine the effect of state and local taxes on your bottom line.
Ӣ Check out the Streamlined Sales and Use Tax Agreement. Currently more than 40 states as well as the District of Columbia have signed on to this effort. It was created more than a decade ago in an attempt to standardize tax definitions, procedures and rates related to how sales and use taxes are applied. ThatӪs not to say itӪs been completely successful; results may vary even in states abiding by the agreement. But its website (http://streamlinedsalestax.org) contains a wealth of useful information.
Ӣ Contact the Multistate Tax CommissionӪs National Nexus Program. The commission can help companies prepare for prospective tax compliance issues and, perhaps more importantly, provide assistance in resolving disputes with taxing states.
Under the program, you may anonymously contact a state to request a review and advice regarding your tax situation. Visit its website at http://www.mtc.gov.
Failing to properly register and remit out-of-state taxes could saddle you with costly back payments, penalties and interest.
Norm Grill is a CPA and managing partner of Grill & Partners L.L.C., with offices in Fairfield and Darien.