- New Jersey is proposing to eliminate the 200-transaction threshold for economic nexus
- States are moving towards simplifying sales and use tax compliance
- Transaction thresholds create unnecessary complexity for small businesses
- New Jersey’s proposed amendment would only require sellers to account for gross revenue for tax collection
- Eliminating transaction thresholds would close revenue loopholes and ensure fair application of state laws
- Simplified compliance frameworks reduce administrative burdens for businesses
- There is a growing need for uniformity in sales and use tax laws across states
Source: forbes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
