If you’re an online or traditional brick and mortar retailer, or hybrid retailer, distributor or wholesaler, you are burdened with sales and use tax compliance. How do you know when it’s time to give up your manual processes in favor of an automated solution?
Here are 5 signs that your company needs a sales and use tax automation solution:
You’re selling products and/or services into multiple states where your business does not have a tangible physical presence. In these cases, remote seller nexus rules could apply. These nexus rules have and will likely continue to change regularly. Managing use taxes on sales made by out-of-state sellers to in-state customers manually places a hefty research and maintenance burden on your business processes. An automation solution alleviates that burden.
You’re selling different types of products into multiple states. Variability in product taxability state-to-state has historically been a headache to manage, and there are no signs that this will change. In some states, product taxability varies state-to-state, based on product type, date sold, ingredients or how the product will be used.
You’re running a hybrid brick and mortar business and e-commerce business that sells product and service via physical storefronts and online. You may have storefronts in different tax jurisdictions within one state, or even across state lines.
You have storefronts in one state, even in one single tax jurisdiction; however have distribution centers in multiple states. Or you may have one physical storefront in a single tax jurisdiction, but sell online to tax jurisdictions across the U.S. and beyond.
The mere thought of a tax audit sends shivers down the spines of your CEO, CFO, CTO, VP of finance, accountants and tax professionals.
These are all signs that your business needs a sales and use tax automation solution. For more information on how Vertex Inc. can solve your sales tax needs – and stop those spine shivers – check out our solutions.