Whether your business is looking to expand into more states (or countries), adding e-commerce options or exploring any number of other digital needs, integrating a tax engine with your ERP can be essential to ensuring positive growth. Organizations can see reduced maintenance costs and lessen the burden on internal teams, while also experiencing increased accuracy […]
Sales and use tax compliance is quickly becoming a critical function for numerous types of businesses. When it comes to your tax and finance team, each employee should of course have basic knowledge of tax details, but what other areas are truly essential? How can you ensure that your finance team is ready to help […]
Change is scary, but it is often also necessary. With sales tax solutions in particular, change management is often fueled by total cost of ownership (TCO), ROI and a desire for reduced manual work. But both the tax department and IT department can reap benefits through successful technology changes. For example, more organizations are moving […]
Having a cloud-based sales tax solution can be greatly beneficial for businesses that are working to stay compliant in an ever-evolving industry. While user-centric solutions that operate on the most up-to-date regulatory requirements are key, organizations cannot ignore the indirect tax burden that can impact IT departments. Moving to SAP S/4HANA will help IT teams […]
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 […]
As the digitization of sales tax continues to raise compliance stakes worldwide, businesses require a complete solution for real-time tax calculation. User-centric solutions that operate on the most up-to-date regulatory requirements can help organizations avoid backtracking and making adjustments for evolving regulations after the fact. This is where a cloud-based sales tax solution comes into […]
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 […]
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 […]
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 […]
Sales tax is a necessary evil for all businesses but you don’t want to spend more time thinking about it than you have to. Implementing the right sales tax solution can help your business continue to grow while ensuring you meet all sales tax obligations. Choosing an efficient, reliable, always-up-to-date solution will help you keep […]
New Mexico is one of many states that updated its economic nexus following the South Dakota v. Wayfair, Inc. decision. With the passing of New Mexico House Bill (H.B.) 6, the Land of Enchantment adopted a sales tax collection requirement for out-of-state sellers and marketplace facilitators. The below outlines several of the major points in […]
Taxpayers worried about complying with the new Massachusetts “Advance Payment” requirement, applicable to sales/use and room occupancy tax taking effect on April 1, 2021, should take note of a temporary safe harbor added to the final version of Technical Information Release TIR 21-4 published by the Department of Revenue on March 31, 2021. As previously […]
Following the South Dakota v. Wayfair, Inc. Supreme Court decision, North Carolina issued a policy directive (SD-18-6) indicating that it would be enforcing the imposition of tax on remote sellers under N.C. Gen. Stat. § 105-164.8(b). This directive was later codified in Session Law 2019-6. Remote sellers and marketplace facilitators should regularly ensure that they […]
As previously reported by my colleague, Erik Wallin, the Massachusetts Department of Revenue is set to start enforcing a new advance payment program applicable to sales, use and room occupancy tax. The requirements are detailed in a draft Technical Information Release and in an email sent to taxpayers on March 5. There are two critical changes […]
As one of the more complicated administrative aspects of a retail business, sales and use tax filing processes are ripe for re-evaluation. Begin by asking yourself questions such as: Does my current solution do enough to make my life simpler? Do I get more out of it than I am putting in? Believe it or […]
Almost two decades ago when Bruce Respler joined Marjam Building Supply, one of the largest distributors of building materials on the East Coast, he was in charge of calculating and filing sales taxes manually. The company, which now owns 40 lumberyards, was only selling into a few states at the time. But even then, the […]
As reported here, a few weeks ago the Maryland Legislature enacted two bills impacting the state’s approach to tax in the digital economy. The first bill was a first-in-the-nation tax on digital advertising that is already being challenged in the courts on Constitutional grounds. The second, HB 932, while far less controversial, should not be […]
When business is booming, the last thing you want to do is focus on tax liability. But as you expand, so does complexity. Moving into new geographic areas or creating new products and services will likely affect your business’ sales tax obligations, so it’s vital to keep up with new requirements as you grow. After […]