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Posts Tagged ‘sales tax compliance for Microsoft Dynamics’

Your ZIP code might be creating audit risk. Here’s why..

Did you know that the way your tax rate tables are set up in your ERP system can make or break your business? Do you know how their set up for your business? That’s because most rate tables are based on ZIP codes. And ZIP codes can be completely inaccurate. Like using a tricycle to […]

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Marketplace Fairness Act: What You Need to Know

No doubt you’ve heard about the Marketplace Fairness Act, but do you know what it means and how it could affect your business? Here’s a quick read to learn more about the Marketplace Fairness Act and what it could mean to you. What is the Marketplace Fairness Act? The Marketplace Fairness Act is a current […]

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Automating the Exemption Certificate Lifecycle

Prudent and proactive businesses are constantly investigating and implementing new methods to reduce their sales and use tax audit liability and increase staff productivity because these savings go directly to the bottom line. In today’s economic environment, these goals have taken on added urgency. Virtually all states are experiencing significant revenue drops coupled with higher […]

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Taxing the Intangible

Our lives are filled with intangible goods (things that can’t be touched or seen even though money may have been paid to purchase them) and with software-as-a-service and digital goods offerings becoming more mainstream, state lawmakers have begun to sit up and take notice of ways in which to tax these intangible goods. Estimates that […]

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How Will Sales Tax Legislation Affect Your Business?

Whether you conduct business online or on Main Street, you are likely aware of a bill that has been making its way through Congress- the Marketplace Fairness Act of 2013 (MFA).  If it passes, internet and remote sales tax will be a new reality for many businesses.  This leaves many businesses wondering, “Does this apply […]

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5 Sales Tax Tips for Microsoft Dynamics GP Users

“Mediocre men wait for opportunity to come to them.  Strong, able, alert men go after opportunity.” B.C. Forbes Debates over online sales tax, and related statutory rules and rate changes have vaulted sales and use tax compliance to the top of every savvy businessperson’s 2013 action list. Understanding how to implement safeguards and systems, monitor […]

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The Five-Digit Code That Could Cost You

Here are some fun facts about ZIP (Zone Improvement Plan) codes: The easiest ZIP code to remember is 12345, a unique ZIP Code for General Electric in Schenectady, NY. Due to thousands of letters addressed to Smokey Bear, the US Postal Service gave him his own unique ZIP code (20252). Bristol, TN and Bristol, VA […]

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Close is NOT Good Enough When It Comes to Sales Tax Compliance!

Close only counts in horseshoes, not in sales tax. Close in sales tax means either you aren’t collecting enough from your customer and are remitting too little to the taxing authorities, or you are overcharging your customer and face customer service issues. Either way, close is not good enough. Underpaying sales tax can prove to be costly. […]

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The Dark Side of Sales Tax Compliance: 12 Sales Tax Tips for 2013

2012 was a turbulent year in the world of sales tax, and 2013 promises to be just as wild. With multiple online sales tax bills currently before Congress, and states passing their own so-called “Amazon laws”, it can be tough to keep up with it all. Couple that with the fact that states are expected […]

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Sales Tax Jurisdictions and the Way They Divide Us

Manual sales tax management processes are risky for a business because there are 100,000+ taxability rules that can be applied across 11,000+ taxing jurisdictions in the US alone.  There are also thousands of rule, rate, and jurisdiction changes annually, and staying on top of all the changes can be time consuing for your business.  Especially, if you are doing business in […]

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