ARLINGTON, Va., May 15, 2012 /PRNewswire-USNewswire/ -- An annual Bloomberg BNA survey of state tax departments released this month asks senior state tax officials in all 50 states how their jurisdictions are taxing the new technologies and types of transactions that continue to emerge as the U.S. economy shifts from the bricks and mortar of Main Street to the web-based world, which operates mostly independent of state or local borders. The recent Survey findings will be presented in a new Bloomberg BNA webinar, Cloudy with a Chance of Nexus: Analyzing Bloomberg BNA's 2012 Survey of State Tax Departments on May 17, 2012.
States once believed that a corporation needed a physical presence within their borders before it could be subject to an income-based tax. But new technologies, such as cloud computing, and new transactions such as Groupon and LivingSocial, are challenging the parameters of most states' tax codes, which either have not addressed how these technologies and transactions will be taxed, or do so under outdated provisions.
What constitutes a taxable "economic presence?"
The Bloomberg BNA 2012 State Tax Department Survey identifies a number of different scenarios that can trigger income tax nexus in different states:
Cloudy with a Chance of Nexus: Analyzing Bloomberg BNA's 2012 Survey of State Tax Departments takes place May 17, 2012 from 12:30 p.m.– 2:00 p.m., (ET). To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bna.com/cloudy-chance-nexus-w12884909075/?utm_source=newswire&utm_medium=PR&utm_content=TM&utm_campaign=Webinar-05172012 or (in the U.S.) call 800.372.1033, menu Option 6, then Option 1. The per site fee is just $249 which includes a copy of the 2012 Survey.
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