When New York first passed its law defining what constitutes a “vendor” subject to collecting sales tax in the 1980’s, the idea of online shopping sounded like science fiction. In retrospect, NY may have effectively enacted the first “economic nexus” law when they drafted their definition of “vendor” to include a person who regularly or […]
Sovos Partners with Magento Commerce to Accurately Determine Sales Tax and Improve Filing Processes for Merchants
As a Magento Select Technology Partner, Sovos will help streamline sales and use tax compliance for rapidly growing e-commerce businesses of all sizes.
April 20, 2018 — Sovos, a global tax compliance and reporting software leader, announced today that it has been named a Magento Select Technology Partner to improve sales tax determination and filing processes for businesses. The partnership provides merchants of all sizes with seamless, real-time integration to the world’s most accurate tax rates and automated filing in thousands of taxing jurisdictions across the globe. The Sovos extension is available through the Magento Marketplace.
“From global manufacturers to small online sellers, businesses are facing unprecedented risk from states and local governments that are cracking down on sales and use tax collection – and that’s the last thing that should get in the way of growing online,” said Fritz McCormick, general manager of sales & use tax solutions at Sovos. “As a testament to our combined commitment to commerce innovation, our partnership with Magento allows us to introduce our Intelligent Compliance approach to ensure merchants can successfully navigate increasingly complex tax compliance rules and requirements. It’s the perfect time to help Magento merchants improve the accuracy of their sales tax reporting – and set those businesses up to stay ahead of the ever-changing regulatory environment as they grow.”
Before they can sell to U.S. consumers, ecommerce businesses must comply with a web of complex state and local tax rules to determine the right rates to charge customers. Tax compliance has become a disruptive burden to online sellers in recent years, as 46 states and thousands of local governments scramble to adapt decades-old rules to apply to new business models. To proactively manage compliance challenges, Sovos offers a global solution for tax determination and reporting, allowing businesses to leverage technology for greater accuracy and efficiency.
Sovos, which works with some of the world’s largest retailers including Home Depot, CVS and Kellogg’s, now delivers global tax determination capabilities to Magento Commerce merchants through a flexible solution built specifically for their needs. With the Sovos extension, Magento merchants can work with a single tax solution as they grow, eliminating the need for additional solutions as their business models and supply chains expand.
“Sovos is a global leader in tax determination and reporting, and we are pleased to welcome them as a Magento Select Technology Partner,” said Ryan Murden, head of business development at Magento Commerce. “We partnered with Sovos to deepen their Magento product integrations and help our joint merchants navigate global tax compliance challenges.”
Sovos is a global leader in tax compliance and business-to-government reporting software, safeguarding businesses from the burden and risk of compliance around the world. As governments go digital, businesses face increased risk and complexity. The Sovos Intelligent Compliance Cloud combines world-class regulatory analysis with a global cloud software platform to create an adaptable, connected and global compliance solution that keeps businesses ahead of the ever-changing regulatory environment. Sovos supports 4,500 companies, including half of the Fortune 500, and integrates with a wide variety of business applications. Based in Boston, Sovos has offices throughout North America, Latin America and Europe. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
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