This blog was last updated on June 26, 2021
Each year there are hundreds of tax rules and rates changes and 2015 was no different. All over the US, changes are made every year about everything from rate changes to what is taxable and of course, sales tax holidays. Was your company able to keep up? The problem of having an incorrect rate active in your sales tax process could mean a number of things for your company. Not only would you face the risk of penalties and fees, but if you are charging a customer the wrong rate, it would create an unfavorable experience that could impact your revenue and reputation. It could also trigger an audit. None of these are good things. At Sovos, we have a team of experts working full time to track and update the rule and rate changes across the globe. Our content is refreshed constantly, reducing our client’s risk and exposure. Check out our Infographic to see some of the tax team’s favorite changes made in 2015!