Senators Propose Tax Nexus Bill


A bipartisan proposal introduced by two members of the Senate Finance Com­mittee would establish a so-called bright-line standard for state business activity tax nexus. Sens. Charles E. Schumer, D-N.Y., and Mike Crapo, R-Idaho, introduced the proposal in the Business Activity Tax Simplification Act of 2007 on June 28.

The law would codify the physical presence standard—such as the presence of employees or property—for a state to impose corporate income or business activity taxes. Currently, the physical presence nexus standard is most clearly applied to the imposition of sales and use taxes. The bill, S 1726, is available at www.thomas.gov.

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With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

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