Yesterday, we talked about the concept of nexus – your connection – to a state. The term us accountant-types like to use for that is nexus footprint.
Your business likely has more than one nexus footprint. Here are some common things that might create nexus for you:
- Hiring an employee
Having a tradeshow
Owning real or tangible personal property
Having a sales function
If you have a business that travels or that ships products or even sells digital downloads, then you need to pay special attention to where your nexus is.
Here are two resources to get you started:
Pay special attention to Chapter 15, What State is Your Business In?
Tomorrow we talk about The Two Faces of Nexus.
Thursday: Colorado’s Dangerous New Tax Example
Friday: Nexus Solutions