08 Sep, 2017

Self Storage Business For Sale Texas

Self storage business for sale Texas If you have traveled anywhere in the world in the past decade, odds are you have received a variety of responses to the fact that you are American. Some are ambivalent. Some are extremely happy to see you. But odds are that most simply make a face that says "Oh. You're one of those." Probably expecting you to be rude or act like any other stereotype that many people tend to believe about Americans. But the truth is that in most cases, it is simply a matter of jealousy. And not because you are better. Rather that America is usually ahead of the curve when it comes to new ideas and concepts. Such is the case with self storage. 1. self storage business for sale Texas 2. Do you make internet sales? (On all internet sales, sales tax is due...assuming the product/service is taxable. The issue is whether the seller has a duty to collect and remit or whether the buyer is required to self report.) 3. Do you have affiliate relationships with out-of-state companies? 4. Do you have sales representatives travel outside of your home state? 5. Do you engage in trade shows outside of your home state? 6. Do you have employees or agents that perform services on your behalf outside of your home state? Nexus is a "connection" or "link". Sales and use tax nexus refers to the connection between a person or entity and a taxing jurisdiction sufficient for that jurisdiction to require the person or entity to comply with its sales and use tax laws. The current basis for determining when sales and use tax nexus exists is found in two Supreme Court cases; Quill Corp. vs. North Dakota and National Belles Hess, Inc. vs. Department of Revenue of the State of Illinois In both Quill Corp. and National Belles Hess, Inc., the Supreme Court ruled in favor of the taxpayer, limiting the states' ability to impose its taxing authority over interstate commerce. The guidance derived from these two cases can be employed in today's markets to manage self storage business for sale taxes and use tax compliance responsibilities. While most States continue to reference these cases when defining sales tax nexus thresholds, the States continue to pursue expansion of their sales and use tax authority. With nexus being the foundational element that requires a company to collect and remit sales tax, it's important to note some of the difficulties in determining whether a company has sales tax nexus or not. As with most sales and use tax related matters, determining whether or not sales tax nexus exists requires some level of interpretation of a state's statute as it applies to the activities of the entity. With that backdrop, here are the most common issues that technology companies struggle with from a self storage business for sale taxes nexus perspective.