Wayfair Has Complicated State And Local Tax Collection. What Do Jewelers Need To Know?

With internet sales growing, it’s more and more common for jewelers to sell their products in multiple states. At the same time, the Supreme Court’s South Dakota v. Wayfair decision has complicated the requirements for collecting sales tax across state lines. Howard Hoff and James Brower, partners at Marks Paneth LLP, the top 50 accounting, tax and advisory firm, explain how jewelry retailers can avoid overpaying taxes, being fined or even getting stuck paying the sales taxes on their own goods.