Nevada Wayfair Sales Tax Rule Takes Effect

Remote sellers meeting Nevada’s new economic nexus thresholds must begin collecting sales tax by November 1, 2018.

Economic Nexus Thresholds

The economic nexus thresholds are:

– more than $100,000 of annual sales into Nevada; or

– 200 or more separate transactions into Nevada in the previous or current calendar year.

When Do I Need to Register and Collect?

Retailers meeting the threshold must register for a Nevada sales tax license. Remote sellers must begin to collect tax on the first day of the month that begins 30 days after the threshold is met. So, remote sellers meeting the threshold on October 1, 2018, must register and collect by November 1, 2018. Remote sellers may choose to comply before meeting the threshold.

Local Taxes

Remote sellers must collect both state and local sales and use tax. Local taxes are collected and reported at the same time as the state sales tax. Local taxes must be remitted to the state.

Additional Information

Additional information, including instructions and links to register with Nevada, is available at: https://tax.nv.gov/FAQs/Remote-Sellers/.

Website, Nevada Department of Taxation, October 8, 2018

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AUTHOR

CCHTaxGroup

All stories by: CCHTaxGroup