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This blog was updated on January 10, 2023 Delaware’s Secretary of State (SOS) recently advised that they plan to send invitations to participate in the Delaware VDA program around February 24, 2023 and July 14, 2023. If a company receives an invitation to participate in the Delaware VDA 2023 program and is interested in taking […]
As the direct-to-consumer (DtC) beverage alcohol shipping market continues to grow, spurring more interest in the market, there has been a recent rise in, as it’s called, “three-tier DtC shipping” services. In this arrangement, a beverage alcohol supplier—a winery, brewery, distillery, importer or other supplier who might be looking to establish their own DtC program—works […]
No matter the size of the business, the tax season kicked off this past month with tax reporting professionals tackling the massive task of issuing and filing annual 1099s, W-2s, and other tax returns by January 31st. When January is in the rear-view mirror, businesses will turn to the next hurdle of 2022 tax reporting season; annual reporting of Form 1042-S […]
This January, Sovos ShipCompliant released the 2022 Direct-to-Consumer (DtC) Wine Shipping Report with our partner, Wines Vines Analytics. The report is the most comprehensive, complete and exclusive collection of data and insights on the state of the industry. Wine shipments to consumers reached a record $4.2 billion in 2021, meaning this is a fantastic time […]
By Zach Kamphuis, Vice President of Business Development at Commerce7 October, November and December represent the best direct-to-consumer (DtC) sales months for many wineries. With the 2021 holiday season now behind us, how can wineries capitalize on the new customers gained through the past months and avoid falling into a post-holiday sales slump for DtC […]
Near Beer registrations have robust 55% growth from Q3 2021 The final months of 2021 saw some fluctuations from recent beverage alcohol brand registration patterns. This is not a complete surprise, as the industry is putting a cork in the second year of doing business and introducing new brands in a pandemic-influenced marketplace. For example, […]
As interest in the direct-to-consumer (DtC) alcohol shipping market has grown, a number of third-party servicers have popped up promising to support the market. These services range from marketing platforms to online storefronts to logistical support, everything that a winery, brewery, distillery or other prospective DtC shipper will need to deal with once they’ve come […]
Every industry has its own set of unique issues relating to unclaimed property and organizations related to healthcare are no exception. Unclaimed property compliance for healthcare companies generally falls under two categories: general ledger types of unclaimed property resulting from corporate operations such as vendor payables or payroll and unclaimed property in the form of […]
Sales tax is tough, especially when it comes to compliance. Sales and use tax compliance takes time and resources, no matter the size of your business. New laws are constantly added and amended, sometimes with little warning, making compliance seem nearly impossible. To make things worse, sales and use tax audits are on the rise […]
Businesses in the beverage alcohol space can ship alcohol to consumers, but key rules and regulations apply It’s a common question to wonder if it is legal to ship alcohol. The short answer is, yes! The longer and more in-depth answer is, yes, but there are important laws to follow along the way. That’s why […]
As sales tax continues to evolve in complexity, working with the right partner becomes more important. Currently, 47 states and territories in the U.S. are imposing state or local economic nexus standards. Regardless of the size of your organization, it can be difficult to stay up-to-date on sales tax changes. That’s why partnering with a […]
In a surprise move, the Massachusetts legislature swiftly adopted a new law easing the sales and use tax compliance burden of their new “Advance Payment” requirement that was imposed on certain large taxpayers beginning last April. As initially reported in December 2020 and then again in March 2021, Massachusetts created a set of unique filing […]
Over the years, we have hosted numerous webinars and events around unclaimed property. Throughout these events, we’ve received many excellent questions from attendees. We combed through and provided some of the most frequently asked questions and their answers from our unclaimed property experts. Due Diligence If we have property where due diligence needs to be […]
This blog was updated on December 1, 2023 If Black Friday and Cyber Monday 2023 are any indication, online shoppers are out in full force. TVs, smart watches and headphones had some of the highest numbers on Black Friday, according to Adobe Analytics. Overall Black Friday online numbers reached new levels, with a record-breaking $9.8 […]
The IRS released Proposed Regulations this week that permanently extends the time for businesses to provide the Recipient copy of Forms 1095-B and 1095-C. Rather than continue to issue annual Notices to extend the date to issue the statement to the recipient, these regulations propose to permanently amend §1.6055-1(g)(4)(i) i to automatically grant filers a […]
Editor’s note: This blog was updated on November 13, 2023 The 2023 1099 tax reporting season is rapidly approaching, and the changes and updates are still coming – from the IRS and states. How can you ensure you’re ready for the busy season in time? What are some best practices for ensuring your 1099 information […]
Even those with only a passing familiarity with sales tax understand that the tax rules and the associated compliance requirements are complex in the state of Louisiana (economic nexus only further added to that complexity). There is an argument to be made among practitioners, with strong challenges from states like Alabama and Colorado, that Louisiana is […]