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This is a CFOTrends Update
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taxverse.pwc.com |
| Sales tax compliance just got more complex Are you aware of potential hurdles after the Wayfair ruling? |
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How will your business keep up with new sales tax laws?
The 2018 Supreme Court ruling, South Dakota v. Wayfair, created a new category of sales tax nexus: economic. Once you reach a certain number of transactions or dollar amount of sales in a state, you have economic nexus. You could be required to start immediately collecting state sales tax.
In "State Tax Collectors Want You," the Wall Street Journal has outlined how new sales tax laws could affect your business—even small e-commerce companies can't escape the impact of new rules.
Ever-changing laws create pitfalls that can lead to costly mistakes. Fortunately, PwC's new TaxVerse software makes it easy to stay on top of your sales tax nexus status. |
This editorial illustrates the challenges of sales tax
compliance in this new environment.
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| Need help determining where you need to collect sales tax? Check out TaxVerse, PwC’s automated nexus determination software. |
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