Out-of-state no longer means out of reach for sales tax compliance
A U.S. Supreme Court decision this summer opened the door for states to collect sales tax from online, phone order and inbound sellers even if they have no in-state physical presence. The decision has prompted many states to now consider or pass laws to take advantage of this new source of revenue.
While the details differ by state, most are putting the burden on remote sellers to collect all applicable taxes, including local taxes, and it’s within reason to assume all sales will count towards whatever thresholds states create.
Time Is Running Out
Many states set either Oct. 1, 2018, or Jan. 1, 2019, as the date for businesses to be in compliance with their new sales tax laws, so the clock is ticking to ensure your business is ready.
Wondering how your business fits into these new rules? Listen in to a recorded webinar covering what you need to know regarding various state and local tax rules and why you should immediately review your sales tax collection practices.
We also offer a Sales Tax Risk Assessment that can help you identify filing responsibilities based on the number of transactions and volume of sales in a particular state. Our assessment will tell you if you need to register, collect and remit sales tax in a specific state.
The differences in the thresholds states are putting on these new sales tax laws vary greatly, and sorting through them can be confusing. Get ahead of the game and start planning now to be in compliance. Contact us to take a proactive approach to sales tax reform.