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A sales tax nexus is created when a business has a sufficient connection to or presence in a state or jurisdiction, such as a physical presence or economic activity, which triggers a sales tax collection obligation.

(a) General nexus standards require the physical presence or economic presence of the taxpayer within the state for the taxpayer to be subject to taxation by the state.

“Nexus” is the requisite contact between a taxpayer and a state before the state has jurisdiction to tax the taxpayer. Sales tax nexus is generally established when a business's retail activity in a state meets a certain dollar amount and/or number of individual transactions.

Economic nexus Remote sellers and marketplace facilitators that have gross revenues of $100,000 or more or 200 or more separate transactions in the previous calendar year are required to collect and remit Rhode Island sales or use tax. Sales you make through a marketplace are included in the total.

You might also owe state taxes on the benefits depending on where you live. For the 2024 tax year, nine states tax Social Security benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. All other states and the District of Columbia do not tax the payments.

Historically, nexus was based on physical presence. People, payroll, inventory, assets, office locations, and real estate all represent a tangible presence in a state that allowed that state to assert its taxing authority over a business or individual.

In 2024, the first $13,610,000 of an estate is exempt from taxes, up from $12,920,000 in 2023. Estate taxes are based on the size of the estate. It's a progressive tax, just like our federal income tax. That means that the larger the estate, the higher the tax rate it is subject to.

In Rhode Island, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (similar to a will), naming someone to take over as trustee after your death (called a "successor trustee").

An estate accounting (also known as a probate accounting) provides a financial breakdown of what happened to the assets in a decedent's estate during the probate process. The personal representative must provide all interested parties with an estate accounting.