Blog

Unclaimed Property Pre-Presumption and Electronic Outreach

There are many things to keep track of with unclaimed property so it’s understandable that certain items, such as unclaimed property pre-presumption outreach and electronic due diligence requirements, can be overlooked. However, they are part of unclaimed property law and therefore require compliance. Sovos tracks all nuances of unclaimed property law and ensures that our […]

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How Recent Product Registration Online (PRO) Renewal Enhancements Simplify Workflows

Sovos ShipCompliant recently announced new Product Registration Online (PRO) renewal enhancements that will help suppliers and states ensure even more efficient workflows. With these changes, PRO users enjoy fast, easy electronic brand and label registrations for beer, wine, spirits and no-COLA products in participating states. Oklahoma was the pilot state for these enhancements, with their […]

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Maryland Unclaimed Property Audit Notices

It has recently come to our attention that the state of Maryland has increased its audit efforts. Due to the negative economic impact resulting from COVID-19, Sovos’ consulting, reporting and regulatory teams have been preparing for increased unclaimed property compliance enforcement efforts to shore up struggling state budgets. Pursuant to Title 17, Abandoned Property Act […]

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General Ledger Unclaimed Property

General ledger is an area all companies, regardless of industry, should monitor for unclaimed property compliance. In this section, general ledger refers to unclaimed property potentially generated from payroll, accounts payable and accounts receivable credit balances. These accounting cycles or functions are present in every organization, therefore it’s important companies explore and review these areas […]

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DtC Wine Shippers have Increased Permitted Volume in Oregon and Wyoming

Oregon Governor Kate Brown signed SB 406 into law on May 21, 2021, more than doubling the amount DtC winer Shippers with permits may ship to an Oregon resident per month. Going forward, licensed direct-to-consumer (DtC) shippers of beverage alcohol may ship up to five (5) cases of wine per Oregon resident per month, with […]

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The Data: Wine DtC Shipments and Off-Premise Retail (April 2021 Special Report)

As the global pandemic slowly eases, wine producers, retailers and consumers continue to be impacted by fluctuations in wine direct-to-consumer (DtC) shipments. Watching marketplace data is critical to understanding how the industry can keep up with change and account for evolving market needs. Nielsen is collaborating with Wines Vines Analytics and Sovos ShipCompliant to provide […]

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How Sovos Helps Future-Proof Sales Tax Compliance

Sales tax compliance is complicated, ever-evolving and often an increasing burden on IT teams. How can organizations manage the shifting rules and regulations, while also maintaining regular business operations? That was one of several questions posed to Sovos’ Terry Melnik, general manager, sales and use tax, on a recent CIO Talk Network Podcast episode. A […]

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Alabama is Latest State to Permit Direct-to-Consumer Wine Shipping

Alabama Governor Kay Ivey signed HB 437 into law on May 13, 2021, making Alabama the latest state to legalize direct-to-consumer (DtC) wine shipping. With this step, only Delaware, Mississippi and Utah continue to prohibit this popular and valuable means of selling wine. Alabama’s new DtC law will not become effective until August 1, 2021. […]

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Tennessee Set to Impose Regulations on Fulfillment Houses in DtC Wine Shipments

On May 6, 2021, Tennessee Governor Bill Lee signed HB 742 into law, establishing a slew of new provisions affecting the direct-to-consumer (DtC) shipping of wine in the state. These provisions, however, will not become effective until January 1, 2022. While the bill does impose several new restrictions and requirements on businesses involved in DtC […]

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Kansas Economic Nexus Has Uncertain Effect on DtC Wine Shippers

Kansas became the latest state to adopt effective economic nexus rules after the state legislature overrode a Governor’s veto to pass SB 50. The new law becomes effective on July 1, 2021, to apply to sales made after that date. Under the new economic nexus law, remote sellers will face sales tax liability on their […]

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Unclaimed Property Reporting for Retail Businesses

The evaluation of retail unclaimed property compliance can be quite complex when taking into account the nature of the business.  On one hand, the organizational and accounting structure of a retail company presents challenges in the form of determining which state properties should be reported and remitted to, per the priority rulings.  On the other […]

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What are Sales Tax Obligations for Direct Sellers & Multi-Level Marketers (MLMs)?

Direct selling companies and multi-level marketing (MLM) businesses have numerous complexities to consider when it comes to sales tax calculation and reporting requirements. Along with an expansive physical nexus footprint, direct sellers must know how their products and services are taxed around the country. It’s a daunting task when facing it alone.  Where are you […]

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What to Expect with New Sales Tax Software Implementation

Change is rarely easy, but when it comes to implementing new sales tax software it doesn’t have to be a constant struggle. Organizations want to know that the implementation process includes hands-on assistance and a timeline that makes sense – for all parties involved.  Our Sovos implementation is designed to deliver value quickly and to […]

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New York Unclaimed Property Self-Directed Compliance Program

Continuing the trend in 2021, New York unclaimed property recently introduced the NY Self-Directed Compliance Program  geared towards identifying both non-reporters and companies that reported in 2021, but failed to report property types expected to be seen. Due to negative economic impact resulting from COVID-19, Sovos’ consulting, reporting and regulatory teams have been preparing for […]

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Tips to Minimize Risk for Form 1099-K Reporting

Editor’s note: This blog was updated on November 27, 2023  Update: Since this content was published, the IRS released additional guidance further delaying and making changes to the implementation of the lowered Form 1099-K reporting threshold for 2023 returns. Read our recent blog post for additional details about the latest Form 1099-K reporting threshold requirements. […]

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Why Sellers of Software and Digital Goods Must Consider Sales Tax

Economic nexus thresholds have become standard procedure for most U.S. states, but the taxability of software and digital products continues to vary across taxing jurisdictions. Software and digital goods suppliers understandably have questions about sales tax. Where do my digital products or software have special tax treatment? How do I handle sales tax with bundled […]

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Evolution Towards a Better Beer Distribution System for All

By Marc Sorini Marc Sorini is General Counsel for the Brewers Association. Prior to joining the BA, he represented small and independent craft brewers for over two decades as a partner with McDermott Will & Emery law firm, representing the BA and its predecessor organization, the Brewers Association of America (BAA). Sorini’s accolades include Go-To […]

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EESPA Standard: E-Invoicing Compliance Definitions and Responsibility Allocation Framework

EESPA, the European E-invoicing Service Providers Association, recently published EESPA Standard Definitions for Legally Compliant Electronic Invoicing and their usage. This document aims to provide a basis for e-invoicing service providers and their customers to agree on allocation of responsibility of the legal compliance of processes supported by the services. These standard definitions will contribute […]

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