5 Thing to Understand About Your Nexus Footprint

Sponsored By Sabrix

Topics:

Accounting > Tax

Compliance & Governance

Professional Services > Auditing

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Abstract:

Nexus, Latin for a connection or common link, was never meant to be a threatening word. But for businesses today, the threat of creating sales tax nexus within a taxing jurisdiction has given the word a new and highly negative connotation. Small- to mid-sized and fast-growing companies in particular are in a double bind regarding sales tax nexus: they're sizable and busy enough to find themselves in the increasingly broad sights of local tax officials, but they typically lack the expertise and means to minimize their tax liability and audit exposure.

The complexities and fluidity of nexus can be overwhelming and require the constant attention of a tax expert to navigate, but most small- to mid-sized businesses cannot afford that kind of resource internally. Meanwhile, the penalties of under collecting, underreporting and underpaying can be huge—and there's rarely a statute of limitations.

DETAILS

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Posted: July 01, 2008

Length: 7 pages

Format: PDF (71 kb)

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