Video Library

Learn to Prepare and File Your Sales Tax Returns

Video Library

When it Comes to Sales Tax Filings, It Pays to Double Check.

States vary widely in terms of sales tax reporting complexity and how much detail is needed  with the breakdown of sales tax data. Understanding the specifics for each state where you have a filing obligation can help you create an effective plan for organizing the required data and confidently meeting your filing deadlines. 

Sales taxes are the second-largest source of revenue in most states after property taxes. Since South Dakota v. Wayfair, Inc. enabled states to collect more sales and use tax, they’re subjecting sales tax collections to greater levels of scrutiny. As you grow and expand into new territories, that scrutiny will be even more intense from states you haven’t worked in before.

To help you check the boxes on completing accurate state returns, the Sovos regulatory and managed services teams have put together quick videos to show requirements on the most popular states’ return, and demonstrate step-by-step instructions for filing your forms. 

In each video, you will find:

  • Things to know before you file, including accepted filing methods, specific forms/schedules and return due dates
  • An overview of what data to report on each line of the sales tax return
  • Step-by-step instructions for e-filing your returns through the department of revenue’s online portal

Get the Videos

Access the recordings for states listed below by filling out the form.

  1. Arizona
  2. California
  3. Connecticut
  4. Illinois
  5. Maine
  6. New Jersey
  7. New York
  8. North Carolina
  9. Ohio
  10. Pennsylvania
  11. Tennessee
  12. Virginia

As discussed in our second annual Sales and Use Tax Annual Report, tax authorities will be watching. Many are implementing new tax regulations and carefully examining compliance. Make sure these regulators don’t find anything amiss with your sales and use tax filings as you manage the mounting complexity of adhering to thousands of ever changing regulations. 

For example, there were more than 14,000 bills being considered at the end of 2020. All of which could impact sales tax compliance requirements. There were only 7,000 bills being considered by that same time in 2019. 

We understand that properly executing sales tax filings to ensure compliance with all regulations and obligations is a significant undertaking. Mistakes can lead to audits or penalties, increasing the pressure to get it done right the first time, every time. Furthermore, adding other filing related tasks, such as prepayments or industry-specific schedules, into your monthly process can increase the time spent on sales tax compliance. This can quickly become unmanageable if there aren’t enough personnel assigned to compliance tasks.

There can be similarities between requirements from one state to the next, but there are key differences, such as filing deadlines and state-specific forms. If you have been filing in California, for example, and recently expanded sales into New York, you must ensure that you know the requirements for each state. 

Watching these videos can help you understand the state-specific requirements you need to follow to remain compliant with sales tax requirements.

Driving Your Sales Tax Digital Transformation with SAP

The digitization and increasing complexity of sales and use tax has necessitated that most organizations rethink their approach to sales tax and compliance management. Rapidly changing regulatory guidelines and tax laws have made manual processes obsolete and have greatly increased the burden on internal tax teams to get things right.

For many, managing this new level of sales tax complexity means integrating tax with their SAP solutions in order centralize operations and create efficiencies of scale. Already a platform fixture for most companies, SAP solutions allow companies to build a tax first structure that ensures that all regulatory changes are accounted for and updated automatically. This greatly enhances defenses against audits and resulting financial penalties and damage to company reputation.

Sovos helps organizations using SAP solutions drive their digital transformation and centralization initiatives forward. With more than 20 years of SAP experience and hundreds of SAP customers, Sovos has certified integrations for ECC and all S/4HANA deployment models (premise, private cloud and public cloud). Sovos’ Global Tax Determination solution has also achieved SAP certification as integrated with SAP S/4HANA® Cloud, as part of the “Co-Innovated with SAP” program. 

Centralizing sales tax in the cloud with Sovos ensures that clients always have the most up-to-date rates and rules. You also have the flexibility to leverage our SAP certified adapters and/or our simple API connections to calculate tax accurately in numerous ways, based on your own unique mix of technologies and business processes.

In addition, clients can realize the benefits of a fully integrated exemption certificate management solution. This allows you to easily capture, consolidate and manage all customer exemptions as part of an integrated workflow. Save time and improve accuracy, ensuring the presence of a current/accurate certificate drives an exemption in the tax engine.

Finally, when it comes to sales tax, the ability to take all transaction data and correctly report it is critical. Sovos’ reporting feature enhances visibility to manage all associated return data and streamline the filing process, with the capability to submit returns electronically where available. 

Remember, when integrating new SAP solutions, it’s important to consider tax early in the process. This will help to ensure that work doesn’t have to be repeated or work arounds created and both tax and IT save valuable time and resources and ensure alignment between the two groups.

With Sovos and SAP, businesses can face the future of sales and use tax with confidence. Watch our video and then connect with our experts for more information on how Sovos can help you solve your sales tax management issues.

The Sovos expert series provides detailed analysis of urgent tax matters by some of the world’s most renowned tax and regulatory experts. Our audiocasts summarize the critical information you need to know in a quick, easy to understand forum. If you need to know it, Sovos has you covered.

Asia E-invoicing: New developments in the region

Having originated in Latin America, the next region set to embrace continuous transaction controls is Asia. Several jurisdictions in the region have announced their intent to introduce a new invoicing system as soon as possible. In this episode of the Sovos Expert Series, Harri Vivian sits down with Victor Duarte, Senior Regulatory Counsel at Sovos to talk through the upcoming changes in the region, taking a close look at the Philippines and Vietnam.

What is the Import One Stop Shop?

The Import One Stop Shop (IOSS) is here. Since July 2021, businesses selling imported goods in the EU valued at less than EUR 150 can now use IOSS to collect, declare and pay VAT to the local tax authorities in one single return. In this episode of the Sovos Expert Series, Alex Smith, Director of Consulting Services, guides you through the essentials of the new scheme and what your businesses should be considering.

The Effects of Current Events on Supply Chains

Over the past year supply chains have taken a significant hit with the Covid-19 pandemic and Brexit to name a few. It is essential to start putting a plan in place to recover and protect your supply chains and reclaim control.

In this episode of the Sovos Expert Series, Becca Taylor sits down with Andy Spencer, Director of Consulting Services at Sovos to explain how your business can protect their supply chain and carry out effective supply chain reviews.

Decode Incoterms in 7 minutes

Incoterms are set by the International Chamber of Commerce and outline the responsibilities of buyers and sellers while making international transactions. Understanding the relationship between VAT and Incoterms now can prevent costs and delivery delays down the road.

In this episode of the Sovos Expert Series, Becca Taylor sits down with Andy Spencer, Director of Consulting Services at Sovos to explain how your business can overcome the challenges that incoterms provide.

Saudi Arabia: The Gulf's CTC Pioneer

We sat down with Selin Ring, Regulatory Counsel at Sovos, to discuss Saudi Arabia’s upcoming e-invoicing mandate. The new regulations will be introduced 4 December 2021 and signal the beginning of continuous transaction controls, or CTCs, in the Gulf region.

EU E-commerce VAT Package: All wrapped up in 5 minutes

The EU E-commerce VAT package is due to come into effect on 1st July 2021 with changes affecting businesses that trade in the EU. The changes are designed to simplify cross border transactions and keep continuity within VAT reporting.

Although these are simplifications, it can be difficult to determine which will benefit your business without proper knowledge of the package on offer. It is crucial for a business to assess their position and therefore decide if they need to implement any of the EU E-commerce VAT package.

Brazil E-Invoicing: New rules on NF-e invoices

Although Brazil is known for its complex tax laws that make compliance a difficult task in the country, it is undeniable that the Continuous Transaction Control (CTC) system implemented more than a decade ago is one of the most stable in the world.

However, even a sophisticated CTC system continues to evolve and mature, and as a result legal changes and technical updates happen quite often in Brazil. In December 2020 the Brazilian tax authorities changed the premise for cancellation and correction of NF-es and buyer’s responses.

South Korean E-Invoicing Summarized in Four Minutes

We sat down with Selin Ring, regulatory counsel at Sovos, to get a clear understanding of South Korean e-invoicing obligations. The system, which was first introduced in 2011, contains both an e-invoicing mandate and a real time reporting mandate.

Poland: Full Steam Ahead Towards Europe’s Next Continuous Transaction Control System

We sat with down with Sovos’ Anna Norden, principal, regulatory affairs, to discuss Poland’s new e-invoicing law. The new law is due to go into effect  in October 2021 and will introduce e-invoicing via a national platform in a Continuous Transaction Control system.

France (EN): Time is of the Essence When France Moves to Continuous Transaction Controls

We sat with down with Sovos’ Anna Norden, principal, regulatory affairs to discuss France’s upcoming move to Continuous Transaction Controls. The changes are scheduled to debut in 2023 and introduce mandatory e-invoicing clearance and e-reporting.

France (FR): Passage à la facturation électronique et au contrôle continu des transactions en France: les délais seront serrés

Nous nous sommes entretenus avec Jean-Cyril Schütterlé, Directeur Ecosystème chez Sovos, à propos du prochain passage de la France au contrôle continu des transactions. Les nouvelles règles devraient rendre obligatoires, d’ici 2023, la dématérialisation fiscale des factures B2B avec approbation préalable (clearance) ainsi que l’émission d’un reporting électronique.

Trends 1: VAT Trends: Towards Continuous Transaction Controls Part One

We sat down with Christiaan Van Der Valk, VP of strategy at Sovos, to discuss the 12th edition of the Sovos Trends in Continuous Global VAT Compliance report to find out more about the focus and key trends of this year’s report.

Trends 2: VAT Trends: Toward Continuous Transaction Controls Part Two

In the second and final discussion of the 12th edition of the Sovos Trends in Continuous VAT Compliance Report, we sat down with Christiaan Van Der Valk, VP of strategy at Sovos to discuss the increasingly complex tax landscape and how 2020 could affect tax laws in the coming years.

Brexit: Brexit and VAT

We sat down with Andy Spencer, director of consulting services at Sovos, to discuss the VAT implications of Brexit for organisations doing business in the UK and the European Union.  

Turkey: Which Documents can Replace e-Delivery Notes?

We sat down with Selin Adler Ring, regulatory counsel at Sovos, to discuss the Turkey e-delivery note and its impact on multinational organisations. Selin explains the new system, also known as the e-waybill, and the details of the mandate in Turkey.

E-Archiving: E-Archiving with Filippa Jornstedt

We sat down with Filippa Jörnstedt, manager of regulatory analysis and design at Sovos, to discuss why e-archiving should be a critical part of a businesses’ e-invoicing strategy. E-archiving requirements change across jurisdictions and are becoming increasingly important as tax authorities digitise their systems.

India: Changes to the Proposed E-Invoicing System

We sat down with Selin Adler Ring, regulatory counsel at Sovos, to discuss the upcoming changes to India’s e-invoicing system and its potential impacts on business. The mandate will be rolled out over the coming year and will eventually cover all businesses

Sales Tax Compliance Matters

Sales tax continues to grow in complexity which has expanded its organizational impact beyond the purview of just tax and finance departments. To effectively manage sales tax obligations in this new era of modern tax requires a partnership between IT and tax to ensure the proper systems and technology is in place to account for the multitude of regulatory changes taking place on a near daily basis. In this video, we explain how an effective sales tax solution should account for the nuances of your individual business and how it should seamlessly integrate with your existing technology.

Ensuring that your business is compliant with all state, county and local sales tax ordinances and nexus laws is not a nice to have, it’s an essential part of operating a successful business to lower your financial risk and potential for audits and damage to company reputation.

There are a number of tax software products that claim to make compliance easier, but you need to understand how adding new technology to your ecosystem will impact day to day operations. If new software is making life harder or adversely impacting other areas of the business, you have not succeeded in solving your sales tax management problem.

Many sales tax software implementations fail to meet the desired result because they don’t account for the unique challenges of your business. An out of the box, one size fits all sales tax solution sounds great in theory, but if it doesn’t address the challenges your are trying to solve it’s just another layer of IT complexity that needs to be managed. 

If you are currently considering a tax software solution to help alleviate your compliance burden, here are three things to consider. 

First, no two organizations are exactly alike, and all have their own unique problems and challenges, especially when it comes to tax compliance. Your solution should have a plan to account for these.

Two, how will your new tax software integrate with your existing architecture. You are looking to solve a specific set of sales tax compliance problems, not restructure your entire technology platform in the process.

Third, the end goal it to reduce the risk of audit and financial penalty by ensuring accuracy in your sales tax process. Don’t be distracted by other, non-essential features.

At Sovos, we will take the time to understand the nuances of your business and provide solutions uniquely qualified to solve your most pressing tax compliance issues.

We offer solutions and services with the flexibility to meet your most essential sales tax compliance needs and our hands-on approach ensures that you experience the benefits of our solutions quicker, with less time and resources required during the implementation phase.

 

Not All Sales Tax Clouds are Created Equal

Cloud solutions provide on-demand computing that don’t require active management by the user. However, assuming that all clouds are created equal is a mistake that will cost your business. If you are ready to solve your sales tax issues by harnessing the power of the cloud, be sure to understand the four critical pillars of cloud performance. These represent the difference between a complete solution and just another empty promise.

Availability

Your cloud solution isn’t valuable if it isn’t available. Sovos’ cloud platform operates in a robust, purpose-built data center, with a second, equally equipped data center on hot standby, which means planned maintenance is conducted without impact to your response time or uptime and the rare occurrence of unplanned failover can be executed within minutes. Sovos is committed to continued investment in the future of the cloud. If there is a better cloud to be built, Sovos will lead the way.

Scalability

The ability of your cloud to expand and grow along with your business should be your primary consideration. If your growth is inhibited by the capacity of your current cloud solution to keep pace, you are doing yourself a disservice. We ensure consistently quick response times to calculation requests, even in the most demanding time periods and business conditions. Our Global Tax Determination Cloud scales horizontally to handle unlimited transaction volume.

Flexibility

Your cloud needs to adapt to the demands of your business, not the other way around. We deliver certified integrations, modern APIs, batch processing and localized calculation options all to make your life easier. Sovos is the team and technology you can count on to ensure future success. We’ve been there before, and we deliver.

Security

Your cloud contains your most sensitive company data. You need to ensure that it is always protected. Our baseline security measures include: SSAE 16 audited data center utilization; comprehensive business continuity and disaster recovery plans and advanced encryption technology ensuring data security from transmission to encryption within the Sovos Intelligent Compliance Cloud environment.

As you can see, there is more to having an effective cloud-based tax solution than just selecting a cloud vendor. There are major differences in the options available on the market and it pays to do your research ahead of time. If not, you will be paying later, and that cost is far more expensive.

Moving tax to the cloud is the right call, just make sure you select a partner that can meet the demands of your organization. Make sure you talk to Sovos.

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