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As The Online Tax Man Cometh, Will Smaller Retailers Embrace Marketplaces?

PYMNTS

Seismic change in tax policy came last year in the form of a ruling from the Supreme Court, through the case captioned South Dakota v. The ruling meant that online retailers could be mandated to collect sales tax — and taxes can be levied by states on firms that do not have physical presence in those states.

Taxes 116
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Remote Seller Taxation: A Job For Tax Automation

PYMNTS

Aftershocks from the South Dakota v. Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. To date 43 states and Washington, D.C. Implementation.

Taxes 130
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NRF On The Case For Revising eCommerce Sales Tax Laws

PYMNTS

The 2018 South Dakota v. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court. Small retailers may be struggling with Kansas’ law, but large retailers are meanwhile coming under fire in South Carolina. Some marketplace facilitator laws are written so.

Taxes 101
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Wells Fargo’s Q2 Disappoints After Scandals

PYMNTS

Second-quarter net income was impacted by a $481 million one-time expense resulting from a key Supreme Court decision related to online sales, South Dakota v. The San Francisco-based bank had a total of 5,751 retail branches by the end of the second quarter, citing 114 branch consolidations during the first half.

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Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

And, Congress has charged the OCC “with assuring the safety and soundness of, and compliance with laws and regulations, fair access to financial services , and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.” Citibank (South Dakota), N.A., 12 U.S.C. § 1 (emphasis added).

FDIC 78
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Helping SaaS Firms Make Sense Of eCommerce?s Tax Complexities

PYMNTS

Beyond the challenges of the pandemic that is forcing businesses to grapple with all manner of operating challenges, tax complexity has been building over the years on a global stage — and it’s only going to increase. One significant example can be found in the 2018 Supreme Court ruling known as South Dakota v.

Taxes 131
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What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond

PYMNTS

As has been well-reported in this space, the regulatory landscape is changing for companies in the wake of the 2018 Supreme Court decision captioned South Dakota v. There are 12,000 jurisdictions, Peterson told PYMNTS – and that’s the easy part of grappling with tax compliance. The hard part?

Taxes 134