Companies without any physical presence in a state can now be required to collect sales tax based on their sales volume. In June 2018, the U.S. Supreme Court ruled in favor of a South Dakota state law requiring remote sellers to collect sales tax. (The term “remote” applies to internet, catalog and telephone sales, along with other types of transactions.) The court overturned the 1992 Quill decision, which required a physical presence to create “substantial nexus,” thereby allowing state sales tax collections.
The SEMA Board of Directors is composed of industry representatives who volunteer their time to lead and guide the association. They are elected by all SEMA-member companies and represent the trade association’s key membership categories: manufacturers, distributors/retailers, manufacturers’ representatives, and services. There were five open seats on the Board for the 2018 election cycle, including the chairman-elect position. Online voting opened May 14 and concluded May 28 with the following results.
This year’s SEMA Hall of Fame inductees are all very different people, with unique paths to success, but all three have certain qualities in common. They have inspired innovation, fostered collaboration and, most importantly, created opportunities for others. Though their careers have taken markedly different paths, each has demonstrated persistence, generosity and enthusiasm.
The global trading system has the potential to foster economic growth and support peaceful relations between nations. If it breaks down, it can lead to confrontation as countries seek to shield their domestic industries. Tariffs can be a powerful tool for leveling the playing field or, conversely, lead to trade wars and protectionism. The Trump Administration is using tariffs to strengthen its hand in trade negotiations with its trading partners. Is the strategy working?
On July 26, I begin a two-year term as SEMA Chairman. I am focused on improving SEMA and helping our association provide solutions to help our members solve problems. There are many SEMA programs that benefit our member businesses, and most of them are explained regularly in our magazines and newsletters.
IT security pros are gearing up in earnest for the newest threat to corporate security: viruses, malware and similar cybersecurity attacks turbocharged with artificial intelligence (AI). The reason: Just as AI is remaking every other part of the digital world with applications that can think for themselves and grow smarter over time, the wonder technology is also being hijacked by hackers to imbue already dangerous cyber threats with machine intelligence and creativity.
Car-care products—the creams, coatings, polishes and waxes that provide luster and shine and help prolong the life of myriad interior and exterior components—are among the most ubiquitous in the automotive aftermarket. You need never set foot in an auto-parts store in your lifetime to come across them, as nearly every grocery store, drug store, convenience store and car wash in America stocks a respectable range of them.
Of the many categories that comprise the aftermarket, powersports stands out with consumers for its ability to offer fun, utility and outdoor recreation. According to research by Global Market Insights, the industry is expected to trend upward from $11 billion in 2018 to $14.5 billion by 2025. Interestingly, much of the current growth is attributable not to motorcycles, the category’s traditional stalwarts, but to the rise of utility-task vehicles (UTVs), also commonly called side-by-sides.
While artificial intelligence (AI) is increasingly being applied on a massive scale to alter the very nature of how the world works, it turns out AI is also very good at making everyday drudgery disappear.
If the SEMA Show comprises the body of the automotive aftermarket, Hot Rod Alley might well be said to be its beating heart. For decades, the hot-rod and performance-street segments have led the aftermarket in leading-edge engine, drivetrain and suspension technologies. Given recent industry and technological trends, the hot-rodding market segment only figures to increase in popularity and sales in years to come.