8 years after the financial crisis of 2008, the issue of banks, lending practices and Wall Street greed is back in the news as the 2016 Presidential Campaign is underway. While not every candidate is blaming Wall Street, there is enough voter dissatisfaction that the idea of making Wall Street more accountable is gaining popularity….
If you’ve worked in e-commerce for long, you may have come across the term sales tax automation. It sounds fancy and complicated, but it’s really just the idea of taking your sales tax collection, remittance, and filing procedures, and making it all happen automatically. Exactly what is this sales tax process? 1. Determine the Sales…
Problems can occur when retailers wrongly believe they are exempt from a sales tax. Today we’ll look at 9 common sales tax myths that can get retailers in trouble. Retailers with an ecommerce presence have a lot of responsibilities on their plates, especially the tasks of properly tracking and applying sales tax and filing annual,…
For international companies that sell products to U.S. customers, American sales and use tax laws can be complicated. International vendors may believe that they are exempt from these taxes when they are not, or they may think the U.S. tax model resembles the VAT. These companies can find themselves liable for uncollected taxes, penalties and…
All across the U.S., states have been making changes to tax code in an effort to bring in more revenue. This has led to some very strange taxes and exemptions being put into place, as well as weird rulings from the Tax Court. First up, these 10 examples of the weirdest sales tax laws can…
While many retailers are focused on the flood of consumers turning to online vendors to purchase goods, they may not be aware of the fact that some states are trying to pass budgets and legislation to remove exemptions for service providers, in some or all areas. This is because sales taxes revenues are falling in…
As the presidential election draws closer, the debate over taxes is getting a lot more coverage on media today. One issue on the minds of some of the candidates is about the fairness of sales and income tax. There are differing opinions on how to approach an equitable tax burden for the American public. To…
Historically, there was a significant difference between the sale of products and services when it came to sales tax. While this is still mostly the case, there are a number of exceptions (and a growing list of examples) in which a service is subject to sales tax. If you operate a service business that may…
It’s every online retailer’s nightmare: a dreaded audit or costly penalties and fines for erroneous sales tax reporting. And yet, the ever-changing landscape of sales tax regulations that affects ecommerce retailers means that errors in reporting are a real possibility for even the most conscientious of vendors. Is there a way retailers can protect themselves…
Every ecommerce retailer needs to know about the new way to purchase online: by using social media “buy buttons.” One of the biggest questions that vendors need to resolve is how these purchases will affect sales tax, both now and in the future. Social Media Enters the Market Formerly, social media buying used to require…