Top 10 Sales Tax Oddities for Retailers

Sovos
July 20, 2015

Did you know these retail facts? They could be affecting your business! The retail industry is a major source of revenue for taxing authorities and companies operating in this space must be particularly careful when it comes to small details. There are certain everyday occurrences that may not be at the forefront of a retailer’s mind that could have implications on their business. For example: • If you have a café or food concession stand you may be responsible for collecting and remitting meals tax • If you charge an extra fee associated with a layaway special taxability rules will apply These may seem like insignificant facts, but we can assure you that they matter. At Sovos Compliance, our Tax Team constantly monitors regulatory quirks like these to ensure our retail clients have the content they need to simplify compliance. Want to learn about a few more retail oddities you might be missing? Click here to download our “Top Ten Retail Oddities” infographic and learn some fun facts about the retail industry today. For more information about how Sovos Compliance can help you simplify your sales tax challenges, visit our retail resource page or contact us at info@sovos.com.

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Author

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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