Do you know what tax responsibilities you have in each state you operate?
Expanding into new jurisdictions can increase your reporting requirements. Understand your nexus obligations before expanding. You may establish nexus in a new jurisdiction if you hire employees, salespeople, or independent contractors in different states, advertise in a new geographic region, or form a subsidiary. You need to understand your nexus obligations.
Our Nexus Study Determines:
- Sales tax registration requirements
- Sales and excise tax collection requirements
- State tax return filing deadlines
- Additional applicable taxes
What do we do during a Nexus Study?
- You ask whether you must register to collect and/or remit state tax .
- We work together to get an accurate, detail fact scenario. We want to know what you do and how you do it, etc.
- We research the question using the following sources:
- Tax Code
- Publications on tax policy
- Court Cases
- Letter Rulings
4. We forward a tax memo citing all sources and give access to all source documents.
5. Our clients email us any questions or concerns an we speak about the issues.
6. You receive written clarification if the questions or concerns are not addressed in the memo.
If you must you must register but you have been doing business in the jurisdiction without doing so, we can fix it! We can help you:
- Execute a voluntary disclosure agreement
- Participate in an amnesty program (if available)
How much does a Nexus Study cost?
The ultimate cost varies based on the complexity and scope of the question asked. An estimate of the cost is given to clients after we understand the client matter. The client approves the price stated in the proposal before work begins. Clients must sign the proposal and forward a retainer.
Our extensive nexus study experience includes work in the Oil and Gas industry, IT field
Mary Thomas, CPA-Attorney
A certified public accountant and attorney, my experiences in both the accounting and legal fields bring added value to clients.
I joined Thomas, Thomas & Thomas PC in 1999 after working as a compliance auditor at an internationally known health institution, monitoring a portfolio at a US-based bank, and serving as an auditor at a Big Four accounting firm, along with interning at several law firms.
My specialty lies in breaking down complex problems to offer simple yet effective solutions that empower our clients and increase their understanding of sales & use tax and how it impacts their business.
I pride myself on working with people to ensure sales & use tax requirements are defined, understood and adhered to, so people can address sales and use tax issues with confidence.
13121 Louetta Rd, #1515
Cypress, TX 77429