Blog

Make Tax Compliance the Core of Your Financial Management Suite

As global enterprises further their digital transformation initiatives to move financial applications to the cloud, many are at a crossroads with how they choose a deployment strategy that consolidates disparate financial and other departmental solutions and processes. Many organizations that consolidated under the auspice of a single enterprise resource planning (ERP) solution to combine administrative […]

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New York Implements Economic Nexus by Resuscitating 1980’s Law

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 […]

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4 Big Post-Wayfair State Sales Tax Developments to Watch 2019

The South Dakota v. Wayfair decision last June has created a lot of angst for indirect tax professionals and the businesses they work so hard to protect from the burdens of sales and use tax filing. Six months later as we begin the new year, that angst has not gotten any lighter. Any federal legislative […]

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The 5 Biggest Stories in Indirect Tax Compliance 2018

2018 was a volatile year in indirect tax compliance for tax, finance and IT professionals worldwide. With an increase in globalization and tax gaps surpassing tens of billions in some countries, it’s not surprising that one of the biggest challenges governments are addressing is revenue collection. Like enterprises, governments are creating new, technology-driven processes to […]

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Economic Nexus – Six States Set to Go Live in New Year

On January 1, 2019, as we ring in the New Year, the number of states that have implemented economic nexus rules will rise to 32. Georgia, Iowa, Louisiana, Nebraska, Utah and West Virginia will all join the ranks of states requiring ecommerce sellers to collect and remit tax. If your company does business in any […]

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The Post-Wayfair Path to Tax Compliance for eCommerce Sellers

In the wake of the South Dakota v Wayfair Supreme Court decision, and new sales tax nexus rules taking effect across the United States, I wanted to share some thoughts about what ecommerce sellers should be thinking about with respect to registering and meeting ongoing tax compliance obligations in potentially dozens of new states. The […]

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California Announces Intent to Tax eCommerce

In a news release published on December 11, the California Department of Tax and Fee Administration formally announced their intent to join 30+ other U.S. states in the taxation of remote commerce. While formal rules have yet to be issued, California has been contemplating action since the Supreme Court issued their ruling in South Dakota […]

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Avoiding Tax Compliance Risks Moving to SAP Central Finance

SAP Central Finance delivers on the promise of pulling data from multiple sources into a single view for reporting and analysis. Channeling disparate data sources into a single source of truth can be massively valuable to organizations, especially those that have a sprawling number of billing, accounts payable and general ledger components, or even multiple […]

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Automated Exemption Certificate Management at Bridgestone HosePower

Bridgestone HosePower Selects Sovos for Customer Exemption Certificate Management Bridgestone HosePower, LLC is a hose sales and service company that offers hydraulic and industrial hoses, hose assemblies and mobile hose services to internationally-recognized manufacturers of cranes, street sweepers, road paving equipment, sanitation trucks, and drilling rigs and other machinery through 40 branch locations in the […]

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Economic Nexus Update – Colorado and Connecticut to Begin Collection

Five months ago, the Supreme Court decision in South Dakota v. Wayfair, Inc. opened the floodgates of state sales and use tax collection upon remote (out-of-state) sellers. Since that time, economic nexus laws have gone into effect in 24 states. As of December 1, 2018, that number will increase to 26 states when Colorado and […]

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Why the Creation of a “United Nations of Digital Tax” Is a Game-Changer for Digital Business Transformation

The event largely went unnoticed in the general press, and even the business and IT press hardly paid attention. Yet the proceedings that unfolded in October 2018, when more than 80 of the world’s tax administrations came together at a Tax Summit in Lisbon, would be major financial headline material if more people understood their […]

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10 Challenges of Native SAP Tax Compliance – Part Two

In my last blog, I discussed the first three challenges of native SAP tax compliance for growing companies facing multifaceted indirect tax requirements and continuous compliance mandates. These ranged from regional disparate ERP systems and custom workflows, shortsighted regulatory updates and ERP administration. Additional challenges your IT, finance and tax teams face are discussed below. […]

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10 Challenges of Native SAP Tax Compliance – Part One

As tax, finance and IT teams plan to support the future growth of their businesses, many are realizing the challenges of managing customized ERP-centric tax compliance. A recent HCL-sponsored global study of large enterprises (over $1 billion in annual revenue) found that on average respondents had five separate instances of SAP operating across their businesses. […]

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Sovos and the Streamlined Sales Tax Project – Fact Sheet

Note: This post was updated on January 10, 2022 The basics of the Streamlined Sales Tax Project (SSTP) Sovos has been an active industry participant in the Streamlined Sales Tax Project (SSTP) since its inception in the year 2000. Sovos is a certified service provider™ (CSP) under the Streamlined Sales and Use Tax Agreement and […]

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List of States with Economic Nexus Sales Tax Requirements

What are the state sales tax economic nexus requirements? Since the Supreme Court decision in South Dakota v. Wayfair on June 21, states have moved with incredible speed to enact economic nexus requirements. To keep our customers and the taxpaying public informed, Sovos has put together a South Dakota v. Wayfair economic nexus state requirements table that […]

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10 Reasons IT Leaders are Prioritizing SAP Tax Compliance for S/4HANA

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 […]

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How Multinational Retailers Can Sustain Tax Compliance as Economic Nexus Rules Ripple Through the U.S.

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 […]

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Will Tax Compliance Drive Digital Transformation? – SAP Expert John Appleby Weighs In

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 […]

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