If you export to the US, you will have heard of the sales tax or economic Nexus; but do you know a) how it works and b) when / how your business will be impacted?
Sales tax nexus is a US directive (not unlike EU VAT) that requires the local seller or overseas exporter to register, collect, and remit sales tax in a particular US state. Having a federal system, each US state has different legal and tax structures and requirements, so the business activities and sales thresholds that trigger a Nexus registration will be different in each state, as will be the applicable tax rates and jurisdictions.
As an exporter to the US, it is essential that you understand Nexus, your obligations and liabilities to ensure you avoid having to pay uncollected taxes, and possibly fines and interest that average 30% of the amount of sales tax due.
Join Andrea Collins of Global Trade Department as she explores Nexus by state, focusing specifically on:
- where Nexus exists
- economic thresholds for Nexus across the US
- how Nexus impacts different categories of products
- jurisdictions and tax rates that apply
- filing and remitting you taxes
About the specialist speaker Andrea Collins of the Global Trade Department:
Andrea is an international trade specialist with 25+ years’ experience in the industry. A linguist fluent in French and Spanish, Andrea specializes in Importing, exporting, EU Exit preparedness, business resilience, and business growth. A passionate ambassador of UK micro businesses and SMEs, she launched the Global Trade Department (previously The Export Department) to assist these companies expand their horizons internationally and raise the profile of UK goods and services abroad. As well as supporting private clients with their international trade endeavours, Andrea delivers 1:1 support and 1:Many support for a number of Growth Hubs nationwide and is responsible for the design and delivery of a range of EU transition, international expansion, and business resilience support programmes operational across Lincolnshire, Leicestershire, Derbyshire, Nottinghamshire, Gloucestershire, Wiltshire, Oxfordshire, Norfolk, Suffolk and the South East Midlands.
To book your place click here.
07/12/2023 12:00 - 13:00
Global Trade Department