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Law Firms: Economic Nexus May Be Heading Your Way

Economic nexus statutes are sweeping across the nation. The consequence for law firms is that your firm may be required to file a tax return in a state which no firm member or employee has even been in.

16 minute read December 19, 2011 at 11:57 AM
By
Wayne Berkowitz
Law Firms: Economic Nexus May Be Heading Your Way

Perhaps your partners and associates never set foot in an economic nexus state, a state in which your firm is deriving income, so economic nexus may seem like a minor tax concern.

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