Sales tax concerns if you sell through multiple channels
Businesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
In light of the Wayfair decision, and due to recent new hires in a new state or increased online sales, you’ve determined you meet sales tax nexus thresholds outside of just your home state and now you have to collect, file, and remit sales tax in multiple states. What a headache. To make matters worse, this is a compliance issue, so you must act. What do you do?
Well, you have three options to address this compliance obligation. You can:
Many businesses fear outsourcing this piece of their business because they want to maintain control over the process. However, they worry about the associated risks, and still having the liability fall on them.
In fact, sales tax outsourcing can save you time and money, as well as reduce the burden on your current staff and remove that risk and liability. Here are 6 benefits of outsourcing your compliance to an experienced sales tax compliance service provider:
With even more changes coming in 2021 from many of the 10,000 taxing jurisdictions, sales tax compliance is clearly a specialty and not getting any easier. If you’re looking to reduce costs, increase efficiencies and minimize the substantial risk of noncompliance, reach out to a sales tax expert. Consider working with TaxConnex. Contact us to learn more about the benefits of outsourcing compliance and what it means when sales tax is all on us.
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sales tax complianceBusinesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
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