an introduction to sales tax compliance
TRANSCRIPT
![Page 1: An Introduction to Sales Tax Compliance](https://reader036.vdocuments.mx/reader036/viewer/2022070520/58f1816b1a28aba1438b45a1/html5/thumbnails/1.jpg)
An Introduction to Modern Sales Tax Compliance
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Small businesses have a need to understand sales tax compliance - it’s the law
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The landscape of sales tax compliance is changing.
Steep increase in online buying and selling.
Sharp decline in state sales tax revenue.
Increased investment in state tax auditors.
Rise of distributed fulfillment services.
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States are struggling to collect sales tax revenue
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Attempts to enforce sales tax laws can be...
1. Costly
2. Time consuming
3. Politically risky
4. Difficult to succeed
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In many cases, online sellers are confused
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For business owners, sales tax compliance can be...
1. Time consuming
2. Frustrating
3. Inconsistent
4. A major distraction
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Where does a small business owner begin?
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First, understand the risk of not being compliant
Less risk
More risk
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The basic steps to sales tax compliance.
1. Identify the states in which you have triggered nexus.
2. Register with the tax authority in each of those states.
3. Turn on tax collection in those states.
4. File returns and remit collected sales tax on time.
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Technology offers a new path
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Software can make sales tax filing quick and easy
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Prepare and file sales tax returns in just minutes
Upload data... ...prepare returns... ...file returns.
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Start your free trial!
Making sales tax less taxing.