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

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.

This premium content is locked for Accounting and Financial Planning for Law Firms subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN Accounting and Financial Planning for Law Firms

Stay current on the latest information, rulings, regulations, and trends
Includes practical, must-have information on copyrights, royalties, AI, and more
Tap into expert guidance from top entertainment lawyers and experts

Subscribe Now

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

Continue Reading

Entrepreneurship Is Already Hard: Rising Above Extraordinary Personal Crises to Build an Award-Winning Professional Reputation

Entrepreneurship. It has such a romantic ring, doesn’t it? When we hear the word, we think of incredibly successful people who must lead a charmed life. But the truth of the matter is often far from that. Just ask Melissa Rogozinski whose recent book, Becoming Phoenix, tells a much different story.

July 31, 2026

Applying the Zero Trust Model to Manage Risks of Agentic AI

Agentic AI introduces risks that are novel and complex, but the most effective response is a familiar one. Zero Trust answers the problem of when an AI agent misfires on its own by constraining what an agent can do rather than betting on how it will behave.

July 31, 2026

California’s AI Transparency Stack: From State Obligation to Adoption Strategy

California is betting that it can accelerate AI adoption by acting as a demanding, trusted buyer, and that the governance evidence it extracts through procurement can become infrastructure the rest of the market reuses.

July 31, 2026

How to Prevent Your Outsourcing or Managed Services Engagement from Failing

The outsourcing of office and administrative services is expected to grow 50%-60% in the next five years. Contrary to what decision-makers think, and what the service providers hope you think, the biggest risk in outsourcing isn't choosing the wrong provider. It's outsourcing the wrong process, under the wrong model, with the wrong performance measures and contract terms.

July 31, 2026

Advertise with Us Customer Support Terms of Service