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Thread: Income Tax?

  1. #1

    Income Tax?

    So this sales tax economic nexus stuff is overwhelming. We have determined that we qualify in 9 states at the moment so I have been registering in those states. This morning I got back from a couple of them a sales tax number and a BUSINESS INCOME TAX number. What??? Are we going to have to file and pay income tax as well? This is getting unreasonable!

  2. #2
    The way I look at it is figure the cost of penalty and interest <=> cost of compliance. In every instance the cost of compliance is higher. That's the determination as far as I am concerned. Very unlikely that they are going to knock on your door unless you have a really large internet presence.

    Are they really going to come after you if your possible taxable income is a few $100. Doubt it.

    We don't have any states that meet any of the thresholds but if we did I wouldn't loose sleep over it.

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