TaxConnex

AUGUST 24, 2023

Sales tax automation has come a long way since the Quill vs. North Dakota case in 1992. Now, even the smallest multi-state businesses and startups have access to sales tax automation options that lower costs and ease the burden of compliance. Sales tax automation and technology fall short in these areas.

Sales 185

Sales North Dakota Tax Technology 185

TaxConnex

JULY 22, 2021

For most businesses, sales tax is not a top priority. Understanding the various aspects of your sales tax process is critical to minimize your risk and to keep your business on solid ground as it relates to sales tax. Clearly, sales tax calculation is only one piece of the puzzle.

Sales 212

Sales Technology Tax audit 212

TaxConnex

JUNE 13, 2023

Sales tax compliance involves a highly complex set of rules and regulations. These rules change frequently in many jurisdictions, and the question of whether (and how) your company needs to collect and remit sales tax to a certain jurisdiction can be quite difficult to determine. Why is it not enough?

Sales 130

Sales Tax Maine Account 130

TaxConnex

MAY 24, 2022

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Assessing your footprint.

South Dakota 187

South Dakota Sales Tax Retail 187

ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? Automation guarantees the correct indirect tax calculated in every jurisdiction where you do business. Where is the sales tax due?

Sales 98

Sales Tax audit Account 98

TaxConnex

SEPTEMBER 15, 2020

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side.

Sales 226

Sales Tax tax consultant cpa firm 226

TaxConnex

MAY 16, 2023

As you are likely aware, managing your sales and use tax obligations is not a small task. Ensuring you have the right people and processes in place is key to maintaining compliance and not putting yourself or your business at risk.

Sales 130

Sales Tax cpa firm CPA 130

TaxConnex

MAY 3, 2022

F r om time to time, sales tax outsourcing relationships fail to work properly, and a change is necessary. As the sales tax outsourcing relationship progresses over time, sales and marketing messages give way to the realities of the operational relationship. Do you get a lot of notices from tax jurisdictions?

Sales 213

Sales Tax Start-ups 213

TaxConnex

MAY 25, 2023

Sales tax is complex for businesses of all sizes. If you are a business with customers in multiple states, your scope and risk grows in accordance with the number of states and the sales tax complexities in those states. Sales tax obligations begin with whether you have nexus in a state or other locality.

Sales 130

Sales Tax audit Maine 130

TaxConnex

MARCH 1, 2023

Sales tax compliance is riddled with risk. While these pass-through taxes are not meant to create a financial burden on a business, failure to comply can create significant risk and managing the obligations can be a burden to the team who has to manage them.

Sales 130

Sales Tax audit tax return 130

TaxConnex

JULY 5, 2022

What about the sales tax obligations? Our neighbors to the north share several similarities with the United States when it comes to sales tax – but there are key differences. Canada has the equivalent of states for tax purposes. Taxes are largely destination-based. Tax rates vary. Sounds enticing.

Sales 187

Sales Tax Non-Profits 187

TaxConnex

APRIL 6, 2023

The 2018 Supreme Court Wayfair decision gave us a bright line standard for determining sales tax nexus: Generate a set amount of revenue in a state in a set amount of time and your company has to collect and remit the applicable sales tax. Managing sales tax is burdensome. Seems clear.

Technology 130

Technology Sales Tax tax return 130

TaxConnex

SEPTEMBER 28, 2021

Sales and use tax generally applies to the sale or use of tangible personal property and certain services. Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. Who will you ask?

Technology 176

Technology Sales Tax audit 176

TaxConnex

DECEMBER 22, 2022

Many jurisdictions impose a sales tax on the rental or lease of tangible personal property. And along with this tax imposition comes some sales tax applicability nuances depending on the type of lease, associated services and the type of property being leased. The back story. Wayfair, Inc. Important Definitions.

South Dakota 130

South Dakota Sales Tax Finance 130

TaxConnex

JUNE 27, 2023

Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise.

Sales 130

Sales Tax auditor tax return 130

TaxConnex

JULY 7, 2022

If it feels to you like the whole economic nexus and sales tax landscape is one-sided, the U.S. A GAO report states that all states with a statewide sales tax and D.C. A GAO report states that all states with a statewide sales tax and D.C. your sales tax obligations?and get in touch. ?TaxConnex

Sales 175

Sales Tax audit Legal 175

TaxConnex

SEPTEMBER 24, 2020

At this point, the majority of finance professionals understand the need to maintain sales & use tax compliance. Or you acquire a business that has done very little to manage sales and use tax compliance? Register with a state to begin collecting and remitting sales tax. Understand your exposure.

Sales 243

Sales Tax Start-ups audit 243

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

Sales 130

Sales Tax tax return audit 130

TaxConnex

AUGUST 1, 2023

Except when sales tax becomes involved. And the state or local sales tax you also charged on the purchase? Here it gets complicated: How much did you charge the customer in sales tax? Where was the sale made (and did it incur sales tax based on destination or origin )? What was returned?

Sales 130

Sales Rhode Island Tax Michigan 130

TaxConnex

SEPTEMBER 28, 2022

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Nexus can be economic and based on a threshold of sales volume in a given time. How is technology being taxed? How many tax jurisdictions are there, anyway?

South Dakota 205

South Dakota Alaska Tax Sales 205

TaxConnex

APRIL 26, 2022

Not paying attention to your sales tax obligations is never wise. True, it’s a relatively new requirement to collect sales and use tax from remote customers, but it’s one the taxman has always taken seriously from businesses – and that seriousness is only intensifying. Your sales tax obligation starts with nexus.

audit 173

audit Tax Sales Start-ups 173

TaxConnex

DECEMBER 15, 2020

We understand that sales and use tax may not be your biggest priority, but if not managed correctly, it can cause major headaches. Understanding the various aspects of your sales tax process is critical to minimize your risk and to keep your business on solid ground as it relates to sales tax.

Sales 130

Sales Tax Technology tax return 130

TaxConnex

JULY 26, 2022

Partnerships, just like your sales tax obligations, evolve over time. Sales tax is not a set it and forget it task, so if you’ve handed things off and aren’t sure how things are going, it may be time for a check-up with your provider. Read below to see if it’s time for you to start the search for a new provider.

Sales 193

Sales Tax tax return Technology 193

TaxConnex

JULY 28, 2022

Failure to comply with the applicable sales tax rules can have a devastating effect on a business, but they’re often overlooked because they’re considered “pass-through” as the business is responsible for collecting the applicable taxes which pass through the business and are subsequently turned over or paid to the states.

Sales 130

Sales Tax Start-ups Legal 130

TaxConnex

DECEMBER 31, 2020

If you handle sales tax compliance in house, you’ve got your employees handling an unbelievably complex business function – and with 65% of businesses planning to grow across state lines* in the coming year, it may be more than they can manage. You need to check with states where you expect your sales will be greatest.

general ledger 181

general ledger Tax Sales Finance 181

TaxConnex

MAY 9, 2023

But what happens when you lose the person managing your sales tax obligations? You must ensure you have the right expertise and bandwidth within your current team before reallocating sales tax processes. What resources or tools will they need to handle this new responsibility?

Sales 130

Sales Tax audit tax return 130

TaxConnex

NOVEMBER 18, 2021

Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. In fact, you probably have the best of intentions of meeting your sales tax obligations in the future. But what about sales tax liability from prior months? When do your sales tax obligations and liability start?

Sales 178

Sales Tax Non-Profits audit 178

ThomsonReuters

JULY 25, 2023

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be.

Technology 93

Technology Tax audit Sales 93

TaxConnex

JANUARY 12, 2021

Sales tax compliance is complex, there’s no doubting it. As a result of the Wayfair decision over two years ago, sales tax obligations have impacted more and more businesses across all industries, many who previously had no sales tax responsibility. One small mistake can have large implications and risk.

South Dakota 130

South Dakota Sales Tax 130

TaxConnex

FEBRUARY 10, 2022

In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules. sales tax or use tax).

Sales 201

Sales Tax E-commerce Alaska 201

Cherry Bekaert

MAY 23, 2023

Situation: Sales Tax Obligations Spanning Multiple States The Company was only registered with and reporting sales tax to its home state. With customers spanning 33 states and a workforce of more than 50 remote employees, all of the Company’s sales tax obligations were not being met.

Sales 98

Sales Tax Technology tax return 98

TaxConnex

JANUARY 21, 2021

If your online company looks to expand its interstate sales in 2021, know one thing: Your plan involves risks and new responsibilities. The key is learning how to manage both, as sales tax non-compliance or errors can bring stiff penalties. Charging and collecting sales tax in an increasingly large number of states.

Sales 141

Sales Tax tax return audit 141

ThomsonReuters

MARCH 20, 2024

Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets.

Retail 52

Retail Tax Technology auditor 52

Withum

MARCH 13, 2024

Not all tax positions are created equal. Many times, taxpayers find themselves stuck firmly between black and white leaving themselves exposed to the IRS disallowing a position taken from a good faith reading of the tax code. In situations like these, taxpayers can turn to tax liability insurance.

Tax 52

Tax income tax Sales 52

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

audit 105

audit Sales Tax auditor 105

CTP

NOVEMBER 2, 2023

As people plan for retirement, they rarely take into consideration the tax implications. What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. Capital Gains Top-Up.

tax planning 105

tax planning Tax Sales Account 105

CPA Practice

NOVEMBER 1, 2023

a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the release of 17 newly certified integrations with accounting, ERP, ecommerce, point-of-sale, mobile commerce, and CRM software applications. Avalara, Inc. ,

Manufacturing 110

Manufacturing Technology Tax accounting software 110