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South Dakota Sues Wayfair, NewEgg, Overstock And Systemax Over Lost eCommerce Revenue

PYMNTS

It’s a big litigious party out in South Dakota these days, as the state is suing four eCommerce merchants for their lost sales tax – and different merchants (in a separate suit) are suing right back. North Dakota.”. Supreme Court precedent that retailers around the nation have relied upon for decades.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout.

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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

State governments began rolling out economic nexus laws after 2018’s South Dakota vs. Wayfair ruling. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing.

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What The Streamlined Sales And Use Tax Agreement Means After Wayfair

PYMNTS

Economic nexus and marketplace facilitator tax policies rolled out following the 2018 South Dakota v. The National Conference of State Legislatures (NCSL) and National Governors Association (NGA) convened in 1999 to seek methods of making state tax systems easier for interstate businesses to comply with and understand.

Taxes 141
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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. For some of these people who have been audited by South Dakota, they have no idea that the next letter they are going to get will come from New York,” Peterson said.

Taxes 134
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SMB Tax Complexity Preserves Role For The Human Accountant

PYMNTS

Last year, the Supreme Court’s ruling in South Dakota vs. Wayfair Inc. opened the door for states to collect sales tax from businesses that aren’t even physically based in that state, with massive implications for online retailers. The CPA Steps In.

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California Dreamin’ (Of A Higher Minimum Wage)

PYMNTS

The $15 hourly minimum wage would be the highest in the nation, and the proposal represents a potential game-changer in the battle to raise the federal minimum wage, which currently stands at $7.25 an hour on Jan. 1, 2017, then to $11 an hour one year later and will see annual increases of $1 until reaching $15 an hour on Jan.