Helping you navigate state and local taxes
We at Thompson Tax & Associates, LLC are dedicated multistate tax professionals committed to relieving you of burdens created by the complexities of state and local tax laws and reporting requirements.
We have over 250 years of experience in government, industry, and Big 4 accounting to help resolve your state tax needs within budget.
We encompass all industries including high tech, financial institutions, motion picture production, construction contractors, service firms, and more.
Nexus, Wayfair, and the Internet
Concerned about exposure in other jurisdictions? Need assistance with taxability of products and services around the country? Our Consulting Team can help!
Tax Audit Management and Representation
Facing a sales and use tax audit with limited internal resources? Or wondering how much money might be tied up in use tax overpayments? Our Audit Team is ready!
Single and Multistate Filing Solutions
Overwhelmed with filing in multiple jurisdictions? Or perhaps reorganizations and system changes have complicated your return preparation. Our Compliance Team has the know-how and resources to lighten your load!
South Dakota v. Wayfair, Inc. - The Supreme Court Has Decided
In the most anticipated sales tax cases in many years, the Supreme Court of the United States has ruled that an out-of-state retailer with no physical presence in the state could be subjected to that state’s sales/use tax laws under an “economic” nexus standard. In South Dakota v. Wayfair, Inc. et al. Docket 17-494, the Supreme Court decided that the physical presence standard established in the 1992 Supreme Court decision Quill Corp. v. North Dakota should no longer be the nexus standard in today’s economy dominated by the Internet. Instead the Supreme Court ruled in a 5-4 decision, the South Dakota’s economic nexus statute did not violate the provisions of the United States Constitution.
While this decision allows for South Dakota law to stand, there remains many unknowns as to whether South Dakota and other states will apply their economic nexus standards retroactively or whether they will provide a time frame for prospective registration, or even refine existing rules to become more stringent on the application of the law. The high court’s decision simply validates that the precedence set forth by Quill no longer applies, opening the door for taxable nexus statutes creating an economic footprint instead of a physical presence standard for businesses to follow.
Thompson Tax & Associates, LLC as your trusted tax advisor can assist your company through this material change in this sales and use tax standard that prevailed for so many years.