In this episode, Stacey and Meredith explore the complex world of state and local taxation, focusing on one of the most misunderstood topics: nexus. Our team of tax professionals unpacks the common myths businesses often hold, especially around physical presence and economic nexus rules.A key misconception we address is the belief that a company’s tax responsibilities stop at its state of incorporation. In reality, doing business and making sales across multiple states can create tax obligations in each of those jurisdictions.&nbsp;Key Takeaways:<ul><li>State and local tax compliance goes far beyond a company’s headquarters.</li><li>Many businesses mistakenly assume that only physical presence determines their tax obligations.</li><li>Because tax laws differ widely from state to state, compliance must be tailored to each jurisdiction.</li><li>Nexus can be triggered in overlooked ways, including remote sales and employee activity.</li></ul> Chapters00:00 - Intro03:06 - Nexus and State Tax Jurisdiction13:00 - Tax Compliance in Multi-State Operations16:36 - Drop Shipments and Sales Tax24:45 - Software Limitations in Business Compliance40:20 - Navigating State Tax ComplianceConnectSubscribe on your favorite podcast app <a href="https://truthwork.slack.com/archives/D03426YPV5Z/p1689255898860749" rel="noopener noreferrer" target="_blank">here</a>.Follow us on <a href="https://www.linkedin.com/company/201050/admin/" rel="noopener noreferrer" target="_blank">LinkedIn</a> and <a href="https://www.youtube.com/channel/UCMB1ZQNGXM_F777SIEl8Vjw" rel="noopener noreferrer" target="_blank">YouTube</a>.Mentioned in this episode:<a href="https://saltovation.captivate.fm/contact">SALT Contact</a><a href="https://saltovation.captivate.fm/contact">SALT Contact</a>

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