Hard to believe if you’ve ever dealt with sales tax jurisdictions, but they will actually give you a break on paying your sales tax in the form of vendor discounts and compensations.
2 min read
Your need-to-know: vendor compensations and discounts
By Robert Dumas on Tue, Nov 07, 2023 @ 11:50 AM
Topics: sales tax compliance sales tax sales tax calculation sales tax filing
3 min read
Sales Tax Horror Stories: Automation
By Robert Dumas on Thu, Oct 26, 2023 @ 12:06 PM
Sales tax is a major obligation for your business. As with most such obligations, you probably ask, “Can automation help me?”
Topics: sales tax compliance sales tax sales tax calculation software
4 min read
Can an eCommerce platform alone manage sales tax?
By Robert Dumas on Tue, Sep 26, 2023 @ 11:40 AM
The short answer: Maybe not.
Let’s look at a few factors that could make relying solely on an eCommerce tax platform for compliance risky for your company.
Topics: sales tax compliance sales tax sales tax calculation ecommerce
3 min read
Navigating the Complexities of Sales Tax in the Ever-Changing Landscape of Online Selling (part 2)
By Robert Dumas on Thu, Aug 31, 2023 @ 11:20 AM
Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide.
Topics: sales tax compliance sales tax sales tax calculation ecommerce
2 min read
Sales Tax Compliance - There Is No EASY Button
By TaxConnex® on Thu, Aug 24, 2023 @ 11:00 AM
Sales tax automation has come a long way since the Quill vs. North Dakota case in 1992. Now, even the smallest multi-state businesses and startups have access to sales tax automation options that lower costs and ease the burden of compliance. AI is even making it’s way into the sales tax world, but how much do you trust an automated bot or machine with your sales tax obligations?
Topics: sales tax compliance sales tax sales tax calculation
4 min read
Three C’s of Sales Tax Compliance
By Robert Dumas on Thu, Jul 27, 2023 @ 12:16 PM
Sales tax is meant to be a pass-through tax and thus one that should have minimal impact on a company’s bottom line. The sales tax is collected by businesses and “passed-through” to the taxing jurisdictions. Of course, there is cost associated with managing this compliance obligation; however, the costs of not managing the compliance process are significantly greater. If you fail to collect and remit the applicable sales tax when you have an obligation, under audit a jurisdiction will assess the tax due + a penalty + interest. This then becomes a bottom line hit unless you can recoup from your customers.
Topics: sales tax compliance sales tax sales tax calculation
4 min read
Sales Tax Software vs. Service Providers: Making the Right Choice for Your Business
By Robert Dumas on Tue, Jun 27, 2023 @ 11:00 AM
Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise.
Topics: sales tax compliance sales tax calculation sales tax filing
5 min read
You Can't Solve Sales Tax Problems with Technology Only
By TaxConnex® on Fri, Jun 16, 2023 @ 11:00 AM
Since the Wayfair decision five years ago, sales tax compliance has had to become a major priority for businesses with multistate sales. In fact, 33% of finance professionals rank their top two concerns of managing sales tax as keeping up with their evolving nexus footprint, according to a TaxConnex blind survey conducted at the end of 2022. The survey also stated that over 52% of financial leaders remain relatively unhappy with their company’s approach to managing sales tax.
Topics: sales tax compliance sales tax calculation sales tax filing
2 min read
Can a software manage all your sales tax compliance?
By Robert Dumas on Tue, Jun 13, 2023 @ 12:08 PM
Sales tax compliance involves a highly complex set of rules and regulations. These rules change frequently in many jurisdictions, and the question of whether (and how) your company needs to collect and remit sales tax to a certain jurisdiction can be quite difficult to determine.
Topics: sales tax compliance sales tax calculation sales tax filing
4 min read
Calculation and Compliance: The Importance of Having Both in Your Sales Tax Process (But Not Necessarily By the Same Provider)
By Robert Dumas on Mon, Dec 05, 2022 @ 11:00 AM
Understanding the various aspects of your sales tax process is critical to keep your business on solid ground as it relates to sales tax and minimize your risk.
Topics: sales tax compliance sales tax sales tax calculation
3 min read
Multi-channel selling sales tax: Direct/retail sales
By Robert Dumas on Tue, May 24, 2022 @ 11:00 AM
Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions.
Topics: sales tax compliance sales tax calculation economic nexus
3 min read
Sales Tax on Shipping: When Does it Apply?
By Robert Dumas on Tue, Jan 11, 2022 @ 11:00 AM
It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. What is it? Shipping.
Topics: sales tax compliance sales tax calculation
4 min read
Calculation vs. Compliance: A Deep Dive into Two Important Pieces of Your Sales Tax Process
By Robert Dumas on Thu, Jul 22, 2021 @ 11:00 AM
For most businesses, sales tax is not a top priority. It probably doesn’t even make the top 5 list! But if not managed correctly, it can cause major headaches. Understanding the various aspects of your sales tax process is critical to minimize your risk and to keep your business on solid ground as it relates to sales tax.
Topics: sales tax compliance sales tax calculation
4 min read
Common Sales Tax Automation Mistakes | TaxConnex
By Robert Dumas on Thu, Nov 05, 2020 @ 11:00 AM
This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here.
If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Whether you manage it all internally, work with a CPA, or use an outsourced provider or technology, you know that there are many moving parts. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. However, in my experience, sales tax automation can be counterproductive in certain situations.
Topics: sales tax sales tax calculation
2 min read
Sales Tax Calculation Software - Do You Really Need It?
By TaxConnex® on Thu, Jul 23, 2020 @ 11:00 AM
You’ve determined you have nexus and your products and/or services are taxable. Now how do you implement and actually charge sales tax? There are several ways to calculate and charge sales tax but many people lean towards letting a software handle it for them, but is this really the best solution for everyone?
Topics: sales tax compliance sales tax calculation
3 min read
The Role of Technology in Your Sales Tax Compliance Process
By TaxConnex® on Tue, Feb 25, 2020 @ 11:25 AM
Technology has radically changed the way consumers buy goods and services. And while we can easily identify how digital disrupters, like Amazon, Netflix and Facebook have changed our purchasing behavior, a lessor known change is the way they’ve impacted sales tax. In fact, it’s spurred the largest development in sales tax in over 50 years with the Wayfair case. While the physical presence tests still apply, the Wayfair case dramatically expands the number of businesses subject to sales and use tax obligations.