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This article applies to:

  • Product: ONESOURCE Indirect Tax,ONESOURCE Sales and Use Tax Compliance

Economic nexus thresholds

The Economic Nexus Thresholds section under Content Tools provides economic nexus threshold details for each state or province in the United States and Canada, based on information issued by the relevant tax authorities.
To access this section, go to
Tools
Content Tools
Economic Nexus Thresholds
. Select United States or Canada from the country dropdown to view threshold details by state or province.
The following information is available:
  • Revenue thresholds
  • Transaction-count thresholds
  • Horizon
  • Exempt sales treatment
  • Registration links
Economic nexus threshold details can also be exported to an Excel file.

Register with authority

For jurisdictions where an entity has exceeded or is approaching an economic nexus threshold, customers can initiate the registration process from the Economic Nexus Dashboard.
To begin, select
Register with authority
 for the jurisdiction. This option directs customers to the relevant tax authority's website, where customers can complete the registration process.
Before redirecting customers to the authority's website, OSU CoCounsel shows a message asking whether the returns should also be registered in OSU for the selected entity. Users can select one of the following options:
  • Yes, Add Returns:
     Opens a confirmation window that displays the list of returns that will be added to the entity's Return Register. After reviewing the list, customers can select
    Add to Register
     to register the returns in OSU. Users are then redirected to the authority's website to complete the registration process. The nexus status for the selected jurisdiction is automatically updated to Registered.
  • No, Continue to Authority Site:
     Redirects customers directly to the authority's website without registering any returns in OSU powered by CoCounsel. Users can add the returns to the Return Register later. The nexus status can be updated after the returns are registered in OSU powered by CoCounsel.

Mark as registering

While reviewing nexus thresholds by state, customers can select
Mark as registering
 from the
Register with authority
 dropdown when registration is being completed outside of OSU CoCounsel.
Selecting this option lets OSU CoCounsel know that registration is in progress. The system will stop tracking nexus for the selected state while the registration is being completed.
After
Mark as registering
 is selected, a confirmation message appears asking whether customers also want to add the applicable tax returns to the OSU return register under Entity Configuration. Select one of the following options:
  • Not now:
     Marks the state as registering and doesn’t add returns at this time.
  • Yes, add returns:
     Marks the state as registering and opens the process to add the returns in OSU CoCounsel.

Adding returns

Returns can be added to OSU CoCounsel for an entity directly from the Economic Nexus dashboard. Select
Add returns
 from the
Register with authority
 dropdown.
Use this option when registration with the relevant tax authority has already been completed, but the associated returns haven’t been added to the OSU return register for the entity.
Selecting
Add returns
 opens a confirmation message that shows the returns to be added. Review the list and select
Add to register
 to add the returns to the OSU return register under the entity.
After the returns are added, OSU CoCounsel goes to the Return Register screen, where the newly added returns can be reviewed.