Episode 20: Multistate Nexus and Tax Exposure
Podcast Host: David Jewell, CPA
Speaker: Kelly Brown, CPA, MST
Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.
Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter experts, where we go beyond the beans.
On episode 20 of Everyday Business, host David Jewell, tax partner in Kalamazoo, is joined by Kelly Brown, a tax manager in our Saginaw office.
Listen in as David and Kelly discuss tax nexus and exposure, such as income taxes, franchise taxes and gross receipts taxes.
- Nexus and warehouse inventory and why businesses need to be vigilant of where they are leaving a footprint (2:10)
- Do businesses have nexus if they don’t have “stuff” in a state? (2:55)
- Is there a certain dollar amount of sales that it would need to have before this economic nexus is met? (5:50)
- How do state laws spell out their vague laws for economic nexus? (7:00)
- Taxes that business owners are often subject to and surprised by (7:55)
- What is voluntary disclosure and the alternative? (8:43)
- What can a business do if they aren’t sure whether they need to file in additional jurisdictions? (10:00)
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The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.