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In South Dakota v. Wayfair, Inc., the Supreme Court held that an out-of-state retailer selling over the internet with no physical presence in the State could be compelled to collect sales/use tax from in-state buyers, reversing over 50 years of precedent. The Court said that the old physical presence requirement did not reflect the modern marketplace and current retailing practices and gave internet sellers an unfair advantage over traditional “brick and mortar” retailers.
In this Briefing, you will hear from two state and local tax experts – Peter L. Faber and Mark W. Yopp of McDermott Will & Emery LLP – who will discuss the impact of this case and its effect on retailers and their customers. Specific issues to be addressed include:
- Will the states begin requiring out-of-state retailers to collect use tax?
- What actions should retailers take to establish systems and procedures for collecting tax?
- Will states give retailers time to establish new procedures and systems?
- What are the implications for customers?
Program Level – Overview
Intended Audience - Law firm and accounting firm professionals, in-house corporate tax professionals and government attorneys who want to understand the tax issues presented by modern marketplace transactions
Prerequisites – An interest in deepening your understanding of the tax issues presented by 21st Century technology
Advanced Preparation – None