Addressing Prior-Year Exposure Issues: Voluntary Disclosure Agreement Versus Tax Amnesty

General Business

November 18, 2016
by Craig Cookle

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Nexus is a concept that many businesses do not understand from sales/use tax and income/franchise tax perspectives or in relation to those states which impose some type of entity-level tax on business receipts.  Let’s define nexus:  The degree of business activity or connection that an out-of-state business must have before a state can enforce a right to file and either collect or pay taxes.  Nexus is established when a business has a physical connection with (or in some cases an economic presence in) a state through employees, property, volume of sales, or other action.  


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Length: 3 pages (PDF 148 kB)

 

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