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