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The South Dakota v Wayfair decision changed the traditional physical presence standard for sales tax nexus. Previously, businesses needed a physical location in the state to be taxed, but now, economic presence can also create nexus. This allows states to impose sales tax obligations on out-of-state sellers, impacting various agreements, including those related to the South Dakota Telecommunications Services Agreement.
The main difference between a contract and an agreement lies in their enforceability. A contract is a legally binding document that outlines specific terms and conditions, whereas an agreement is more informal and may not hold legal weight. When you draft a South Dakota Telecommunications Services Agreement, you create a formal contract that holds legal significance.