As states across the nation continue to struggle with immediate concerns related to the pandemic, lawmakers are turning their sights to the future and looking for ways to make up the massive budget shortfalls brought on by COVID-19.
One potential avenue is sales tax. There are a variety of ways that legislators could change or implement sales taxes to increase revenue. In the following article, we’ll examine these and other long-term changes that we may see over the coming months and years as a result of the pandemic.
Economic Nexus Legislation
For a breakdown of economic nexus and the impact it has had over the last two years, please click here.
An ongoing theme of the pandemic has found states with robust economic nexus legislation faring (at least slightly) better than those without. While over 40 states have now enacted economic nexus laws, there are still two states with a general sales tax that have yet to do so: Florida and Missouri.
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