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By: Kayla Kormylo, Staff Accountant

The Online Marketplace Voluntary Disclosure Initiative hosted by the Multistate Tax Commission (MTC) deadline is less than two weeks away on October 17, 2017*.

*UPDATE:  The Amnesty application period was extended to November 1st, 2017.

Currently 25 states have agreed to this program and offer either full or partial relief — amnesty, for online retailers who have not been collecting and remitting sales tax. Many states follow legislation stating use of fulfillment warehouses establishes nexus and/or internet sales will create economic nexus. If either nexus or economic nexus is triggered, the online seller will be responsible to pay the state sales tax regardless if it was collected from the buyer.… Continue Reading...

By: Kayla Kormylo, Staff Accountant

Everyday, more and more consumers are turning to e-commerce over traditional retailers for their purchasing needs. At the rate e-commerce is growing, awareness of state sales and use tax requirements are becoming substantially more relevant. A select number of states have agreed to allow sales tax amnesty, or “forgiveness”, to third-party online sellers for certain unpaid state taxes.

From August 17 to October 17, 2017, Fulfillment by Amazon (FBA) sellers and other marketplace sellers have a unique opportunity in up to 21 states, as of current, to claim amnesty for prior unpaid state sales or use taxes.… Continue Reading...