Tax Implications
What is the sales tax rate in New Orleans?
5%
What is economic Nexus?
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
Did Brick and Mortar or ECommerce do better financially during COVID?
ECommerce
Kirsten studied abroad in this city/country
Florence/Italy
What % increase in sales tax revenue did states see in 2019 compared to 2018 for the months of June to September?
7% increase
Quill Corporation was located in which state?
Delaware
Which Brick and Mortar store’s revenue increased during COVID?
Home Depot
Steven's favorite TV show is
The Office
Name 2 cities with a sales tax rate at 5% or greater
Any 2 of New Orleans, Birmingham, St. Louis, Baton Rouge, Aurora, Denver, and Colorado Springs
South Dakota does not have what kind of tax for the state?
Income Tax
How many companies filed for bankruptcy in 2020? (As of September 24)?
81
Gia's favorite artist/style of music is
Illenium/EDM
What was the amount of estimated sales tax revenue that governments believed they were missing out on pre-wayfair? (Looking for a range)
$13 - $23 Billion
There are currently five states that require $500,000 in sales to establish economic nexus, the highest threshold thusfar. Name two of them
California, Massachusetts, New York, Tennessee, Texas
Which type of bankruptcy was filed by most companies during COVID?
Section 11.
Kacper was not born in the United States, rather he was born in
Poland
What was the sales tax revenue bump that New Orleans received in 2018?
$18.6 Million
What are the (General) two minimum thresholds that were established in South dakota v Wayfair to obtain economic nexus?
$100,000 in revenue or 200 transactions
(Varies from state to state)
What percentage of people surveyed expect an increase in digital capabilities from companies?
68%
Professor Mettler began her career at this firm
E&W