Accounting and Finance
Online Sales Tax Rules for Ecommerce Businesses
In 2018, the Supreme Court ruled in South Dakota v. Wayfair that states can require businesses to collect sales tax in states where they don’t have a business presence.
In 2018, the Supreme Court ruled in South Dakota v. Wayfair that states can require businesses to collect sales tax in states where they don’t have a business presence.
Processors must report all settled payment card transactions under section 6050w. And they must perform backup withholding at a rate of 28% for merchants that have incorrect TIN or tax filing names.