Quick 10 Question Tax Quiz to See If Your Business is At Risk

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5-1-1This secret tax is catching thousands of business owners by surprise. Find out if you’re at risk by taking this quick 10 question tax quiz.

Can you answer ‘yes’ to any of these questions?

(1) Do you have a website that sells products?

(2) Do you ship products to people outside your home state?

(3) Do you or your employees travel to clients outside your state?

(4) Do you pay others an affiliate or referral fee for business?

(5) Do you have employees or virtual assistants who work from home?

(6) Do you own real estate or hold personal property in other states?

(7) Do you have 25% or more of your sales coming from California residents?

(8) Do you sell to Colorado residents?

If you answered ‘yes’ to any of these questions, you may have an issue with nexus.

Over half of all business – small, medium and large – are estimated to be in trouble with nexus. So, it’s no wonder that you and your accountant might have missed this one.

5-1-2If you have a nexus issue, it means you are responsible for taxes in that state.

How far back can they go?

North Carolina is going back to 2003 to collect information.

California’s innocent looking questionnaire can put you on the hook for sales up to 8 years back AND they have 20 years to collect the tax, penalties and interest from you.

What can you do?

LEARN MORE Wednesday, May 5, 2010 “Tax Strategies for eBiz Owners” Free Teleseminar 1 pm Pacific, 4 pm Eastern. SIGN UP NOW

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