Sales Tax Nexus

Do I Owe Sales Tax?

Determining whether you owe sales tax in a particular state(s) can be a daunting and confusing question to answer, especially if you haven't been down that road before. The challenge is, each state is different in determining whether you meet the threshold for what is called "Economic Nexus".

One of the biggest challenges is that some states will define that nexus by sales numbers, others by transaction volume, and others by economic presence - AKA having employees working in a particular state.

Our job is to first, help you understand what those thresholds are for your particular business, and then, help you calculate what those dollar figures may be for filing.

And the best part is... your GrowthLab accounting team works closely with your GrowthLab tax team to adjust ongoing policies and procedures to ensure accurate tracking and tax remittance.

Get Your Free Analysis On Whether You Qualify For Tax Nexus

Sales Tax Nexus Page

Determining Your Tax Nexus

Economic nexus is when a seller must collect sales tax in a state because they earn above a sales or revenue threshold in that specific state. Economic nexus is most common for out-of-state sellers.

A company may be required to collect and remit sales tax but not be required to pay income taxes. However, many states have adopted Economic Presence Nexus which will force companies to pay income taxes. Learn more here.

Questions To Ask

What states are you collecting revenue in?

Has your company registered for sales tax?

How were the registration forms completed?

Where do you have employees and/or consultants?

Where do you have physical property?

Now you understand what nexus is, how do we get involved?

First Four States

$750

2-3 Discovery meetings with our Sr. tax advisors to determine your economic nexus & long-term business strategy
Working with your accounting team to extract transactional sales and payroll data
Reconcile and review the data with you by state to confirm accuracy
Management presentation and supporting documentation

Learn More

Each Additional State

$250

Capital Raising Support
409a Valuations
M&A Transaction Advisory
Strategic Marketing
Employee Compensation Framework

GrowthLab, a Finance-as-a-Service (FaaS) company serving founders and management teams with full-service Financial Planning & Analysis, Monthly Accounting, Virtual CFO, HR-People Advisory, and Business Tax.