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Tax compliance is moving up the priority list as companies migrate from ECC to S/4HANA and S/4HANA Cloud. Multinationals recognize the inefficiencies of SAP-native compliance as government mandates redefine sales and use tax, e-invoicing, and VAT compliance and reporting requirements. Financial systems that were originally implemented to help manage growth are now hindering it. IT […]

In June, the United States Supreme Court announced its decision in the highly-anticipated and hotly-debated South Dakota v. Wayfair case, ruling in favor of South Dakota. Immediately, this decision triggered panic among eCommerce retailers across the country. What would this mean for their sales tax collection obligations? Would they be on the hook in a […]

It’s clear that company leaders understand that digital transformation is key for their very survival in a world of constant disruption, but only a small percentage actually have finished a company-wide transformation – opening the door to potential problems from lost customers to tax compliance issues. An SAP survey finds that 84% of 3,000 executives […]

South Dakota v. Wayfair Decision Effects on Sales Tax Filing The South Dakota v. Wayfair decision is just a couple months behind us, and states are scrambling to impose new tax collection and remittance requirements based exclusively on economic or virtual presence. With July 1 registration deadlines in the rearview mirror and October 1 and January […]

Business Repercussions in the Wake of the Supreme Court Decision on South Dakota v. Wayfair In the weeks since the South Dakota v. Wayfair Supreme Court decision, many tax professionals and experts have written about how organizations need to start planning and preparing for expanded sales tax determination, collection, and reporting responsibilities. Some have even […]

In a recent South Dakota v Wayfair Q&A webcast, Sovos experts answered your most burning questions regarding which states have new regulations, statutes or pending changes relating to remote commerce, economic nexus sales tax obligations and how you should prepare. What should sellers be doing to prepare for this new era of sales tax where […]

Sovos Chief Technology Officer, John Landy, comments on the new S1 platform.  Businesses now need a new approach to handling taxes. With the new S1 architecture, that’s exactly what we’ve built. Tax has changed. What used to be merely a burdensome obligation is now becoming a risky and technical part of every major business process. […]

There is no shortage of advice on what remote commerce sellers should do in light of the South Dakota v. Wayfair decision and the immediate tsunami of states acting to impose immediate (or relatively soon) tax collection and remittance obligations. In fact, smart sellers may have been planning ahead for this eventuality by evaluating (and […]

In the wake of the Supreme Court decision in South Dakota v. Wayfair, Inc., which has effectively killed the physical presence rule established by the Quill decision, states have been empowered to collect sales and use tax from remote sellers within the somewhat muddier standard that is “Substantial Nexus.” And to no one’s surprise, several […]

The acceleration of regulatory complexity is causing unnecessary strain on IT departments within manufacturing companies, negatively impacting growth. In fact, 31% of companies report that keeping up with the volume and complexity of regulations is their number one compliance challenge, and 45% say increasing costs of compliance is their number one barrier to growth. The […]

On June 27, Sovos hosted a live Q&A webcast, “The Supreme Court’s Decision on South Dakota v. Wayfair: Live Q&A With Our Regulatory Experts,” to give tax professionals an opportunity to get answers to their most burning questions. Below is a brief recap of what was covered by our Director, Regulatory Analysis, Chuck Maniace, and […]

On Thursday, June 21, 2018, with the decision of the Supreme Court in South Dakota v. Wayfair, the sales tax compliance landscape underwent a dramatic shift. If you haven’t already, the time is now to consider whether you are doing what you need to do to keep your company safe. The Immediate Aftermath of South […]

You may be familiar with the highly debated Gartner term, “bi-modal IT,” the practice of managing two separate but coherent styles of work: One focused on predictability; the other on exploration. Think of this as projects that keep the lights on or run the business vs. projects of innovation. Both play key roles in digital […]

With these words, the world of sales tax as we knew it was turned upside down: Held: Because the physical presence rule of Quill is unsound and incorrect, Quill Corp. v. North Dakota, 504 U. S. 298, and National Bellas Hess, Inc. v. Department of Revenue of Ill., 386 U. S. 753, are overruled. Much […]

On the heels of revealing our S1 cloud platform to drive the modernization of tax software in the face of mounting digital disruption from businesses, financial systems providers and governments, as well as announcing support and an early adopter program for SAP S/4HANA cloud, we’re excited to also announce the following key appointments to our leadership […]

On what was easily the most anticipated day in sales tax history, the Supreme Court did what many experts thought they would, ruling five to four in favor of South Dakota’s right to require businesses to collect and remit sales tax on all sales, including e-commerce, even if they don’t have people or property in […]

A recent Aberdeen Group survey uncovered sales and use tax filing challenges resulting in audit penalties and interest in manufacturing to the tune of 2 percent of revenue per year. Not surprisingly, manufacturing leaders in the tax, finance and IT functions cited tax return preparation and filing as a top drain on the business. Plainly […]

As Peter Drucker once said, “In times of turbulence the biggest danger is to act with yesterday’s logic.” Yet that is exactly what many businesses today are in danger of doing while still working with technology that was built for an offline world. Sales tax software is a great case in point. According to Aberdeen […]