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Wayfair decision looms large
Written on Oct 18, 2018
A recent Supreme Court decision has kept online retailers and states on their toes.
“Reversing decades of precedent, the U.S. Supreme Court finally upheld a requirement that retailers withhold and remit sales taxes for purchases made by customers in states in which the retailers have no physical presence,” writes Rich Molina, CPA, in the September/October issue of CPA Voice.
The retailers in South Dakota v. Wayfair challenged a law enacted by South Dakota’s legislature that would require them to collect sales taxes from South Dakota residents and to remit the taxes to the state. The new statute was enacted as a calculated attempt by the state to challenge decades of settled precedent, a calculation that paid off, Molina writes.
Read the article now to learn about the court’s reasoning and how this could affect online businesses in the future.
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