On August 31, 2022, New York Governor Kathy Hochul signed S.B. 9454, which aligns New York City’s nexus standards with New York State’s economic nexus standards. For tax years beginning on or after January 1, 2022, businesses have nexus with New York City and are subject to the City’s business corporation tax if they have
economic nexus
Pennsylvania codifies economic nexus standard
By Jeremy Gove, Alla Raykin & Jonathan Feldman on
Posted in Digital Economy
Pennsylvania recently codified the state’s corporate income tax economic nexus threshold, making corporations with no physical presence in Pennsylvania responsible for corporate income tax if they have sales of $500,000 or more per year sourced to Pennsylvania for tax years beginning after December 31, 2022. The legislation also includes a non-exhaustive list of other nexus…