Charles Maniace, Director of Regulatory Analysis, Sovos, discusses how the recent “cookie rule” could impact the Supreme Court who decided to revisit the 1992 Quill v North Dakota case that limits a states’ tax authority over online sales based on physical presence or nexus in-state. Chuck TV – Episode V Episode I – Supreme […]
Tax exemption certificate processes are often a significant, arduous challenge for many larger manufacturers and wholesalers that still manage certificates in a manual and time-consuming manner. This often results in missing, lost or outdated certificates that can lead to significant audit risk. Auditors know this and generally, tax exemption certificate processes are the first and […]
In a move that seemed inevitable since the first dot-com sale was completed, on January 12, the United States Supreme Court agreed to hear a case through which they will re-consider the primacy of “physical presence” in determining a sellers’ obligation to collect and remit sales tax across the country. Businesses need to immediately begin […]
Regardless of what products you sell or what service you provide, managing sales and use tax exemptions is a critical part of a strong tax compliance process. However, tax exemption certificate management often falls through the cracks, opening the door for confusion, lost time, audits, penalties and additional expenses for both your business and your […]
Goodin Company adds Sovos Global Tax Determination to their ERP to increase accuracy, reduce penalties, and free up staff time. The Company Goodin Company is the “Source of Supply” for plumbing, heating, and air conditioning parts for residential, commercial, and industrial builders, plumbers, and contractors. Their fully computerized sales transaction system allows employees direct access to […]
Sovos indirect tax experts, Matthew Walsh and Chuck Maniace, recently presented webinar attendees with valuable information on how to automate tax compliance on the AP side in our Webinar, “Leading Practices in Automating Tax Compliance Along the Procure-to-Pay Process.” They discussed the benefits and drawbacks of manual, semi-automated, and fully automated (real-time or batch) compliance […]
The tax compliance playing field has gone global, with a complex web of intersecting, and sometimes conflicting, tax laws and jurisdictions. The digital era of tax compliance requires tax compliance software that can support centralized control and oversight – otherwise, companies will be vulnerable to missed deadlines, missed regulation changes, errors and discrepancies, fines, penalties and […]
Multichannel and Internet Retailers Benefit from 40 Percent Performance Gains in Tax Determination Transactional Performance If you read the recent Black Friday and Cyber Monday reports for 2017 in the media, many sourced from the National Retail Federation (NRF) or Adobe Analytics, the main takeaway was the accelerated evolution from brick-and-mortar to online retail. This […]
What are the skills today’s tax analyst needs to prepare for the future of indirect tax? You may have gone into the profession thinking, “I’m better at math than language, and being a tax analyst sounds like a good career choice. It could get boring, but I’ll manage.” You may have been right on the […]
Sovos was on the road for one of our local Global Compliance Series (GCS) events at The Palm in Los Angeles last week. Our experts — Matt Walsh, Principal of Indirect Tax at Sovos, and Tim Kirkpatrick, Director at PwC — presented to tax leaders from primarily retail and manufacturing businesses on the challenges of […]
Congratulations! Your business is expanding. Sales are up and in order to meet the client demand, you’ve opened new facilities and distribution centers in new locations. You are starting to enter different product lines and offer implementation services. You’ve even started a reseller program so you can reach new markets. The downside is that now […]
Our October 24 Webinar, “Building the Tax Team of the Future to Successfully Navigate the Regulatory Storm,” is now available onDemand. During the webinar, we asked attendees a series of four detailed polling questions to help them measure their tax teams’ ability to deal with regulatory and business change. Questions were based on a Reactive-to-Proactive […]
It’s clear business evolution, technology disruption and related tax compliance laws are creating increased complexity and becoming tremendous business liabilities. In today’s regulatory environment, businesses must view tax compliance as a critical function, committing the right resources, technology and process discipline necessary to maintain compliance and respond to the associated audits so the business can […]
There’s a growing regulatory storm on the horizon, impacting tax professionals’ roles and skills. This is causing a shift in how businesses are preparing their compliance teams to keep their businesses ahead of the curve. Join Matt Walsh, Principal Indirect Tax and Mark Christenson, Director, of Sovos on October 24 at 2:00 PM Eastern […]
This week we look at three interesting sales tax compliance articles from around the Web you may have missed while manually looking up tax rates, entering exemption certificates for new customers or submitting IT help requests for changes to your ERP. 1. Over at FEI Daily, Tom Nicolosi and Carey Oven discussed the many reasons […]
The speed and complexity of sales and use tax compliance is outpacing solutions most businesses use to comply. As a result, IT leaders are approaching tax compliance more strategically, implementing modern cloud applications to reduce audit risk, impede rising compliance costs and prepare for the digital future of this dynamic regulatory industry. How involved is […]
The VAT Gap in the EU was estimated to be €159.5 billion in 2014, and the enormity of that gap is one of the reasons why the global tax landscape is changing so dramatically. Sovos explained this development to attendees of the FD Exchange conference, which took place in the Steigenberger Airport Hotel in Amsterdam. […]
The current regulatory environment for manufacturers is laden with risk. In a recent Aberdeen Group survey, 50 percent of manufacturers indicated they saw a significant increase in audit scrutiny and frequency over the past two years, with another 60 percent believing audit frequency and scrutiny will continue to accelerate over the next three to five […]