This week we look at three interesting sales tax compliance articles from around the Web you may have missed while manually looking up tax rates, entering exemption certificates for new customers or submitting IT help requests for changes to your ERP.
1. Over at FEI Daily, Tom Nicolosi and Carey Oven discussed the many reasons why compliance modernization evades some organizations and six questions finance executives should be asking.
If you’re still looking at compliance as a cost center and not a revenue driver, or reactively solving issues as they pop up, this may be an eye opening read for you. To learn more about these challenges and the six questions finance executives should be asking of compliance teams, check it out:
Modernizing Compliance: 6 Questions Every Finance Executive Should Be Asking
2. James Paterson, VP and GM of Wolters Kluwer Tax Accounting North America, recently discussed what business leaders don’t know about their sales tax compliance.
Much like the Sovos infographic outlining the hidden costs of sales tax compliance on IT and the value a cloud-based solution brings to the table, Top 10 Advantages of Cloud Sales and Use Tax Software for IT, Paterson points out “many executives don’t realize the role IT plays in fulfilling their sales and use tax obligations.”
He lays out a four-step plan to make sure executives are communicating properly with their Tax and IT teams and are properly prepared for the impending storm of regulations to collect sales and use taxes. Check it out:
What Business Leaders Don’t Know About Their Sales Tax Compliance
3. Our own regulatory analysis team constantly tracks legislation that may have a significant impact on your business. If you subscribe to our free regulatory updates feed you may have seen a Massachusetts judge has ordered Amazon.com to disclose the identity of all third-party sellers who stored inventory in the Amazon warehouse facility in Massachusetts going back to 2012. If your organization uses the Amazon Marketplace or otherwise has nexus with Massachusetts but are not yet collecting, check it out:
Massachusetts Requests Data on Amazon Sellers in Continued Effort to Close E-Commerce Tax Loopholes
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