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Posts Tagged ‘sales tax rates’

Audit Preparation: How to Stay on the Auditor’s Nice List

Reposted from Avalara.com Preparing for an audit is more than a defensive strategy employed by smart companies. Audit readiness creates accountability between departments and core functions and ultimately strengthens and protects the bottom line.  Here’s why being prepared is crucial: Wakefield Research found that a typical negative audit can cost a business more than $96,000.  […]

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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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Sales and Use Tax is Extremely Complicated! New Guide Breaks Down Sales Tax Practices by State.

Figuring out who owes, who collects, who’s exempt from sales and use tax and what states that all happens in is a complex process. Many of you are probably aware of how the sales tax landscape is changing with state and local governments revising tax laws to increase revenues in order to make up for […]

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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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Sales Tax Showdown: How Online Sales Tax Affects Every Business

If you are a retailer, then you probably have been paying attention to a bill that the Senate is close to passing which would require businesses that sell online or through catalogs to collect sales tax.  Currently, online and catalog retailers are only required to collect sales tax if they have nexus or physical presence in the states […]

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Don’t Mess with Nexus in…Florida? Or California, New York, or Texas!

If your business is expanding, good for you! You’re acquiring new customers, maybe even crossing state lines and venturing into new markets. But before you collect a dime, be sure to educate yourself on the sales tax requirements of any new states you do business in. Nexus (aka the requirement to collect/remit sales tax) laws […]

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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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