Keeping track of changes at the state and local level can make sales and use tax compliance a daunting task. It doesn't help that changes are usually more complex than they appear. Jurisdictional changes, new rates and taxability rules, and changed or expanded filing rules are just a few examples that your business may need to track. To help you keep up, here are a few recent sales and use tax announcements in nearby states:
Kentucky Sales Tax Forms: Navigating the state’s tax reporting forms can be dizzying. Specific exemption certificates for certain industries are required, from raising horses to pollution control to delivery of aircraft, campers, and trailers. The Kentucky Department of Revenue recently released an emergency administrative regulation in order to ensure that Kentucky taxpayers have all the forms and information necessary to pay their tax returns on time.
Tennessee & Out-of-State Retailers: Amazon.com began collecting sales tax in the state on January 1st and, soon after, press began asking if there were implications for other out-of-state businesses. The Tennessee Department of Revenue wouldn't confirm requests but provided a list of 6 FAQs about sales and use tax collections for out-of-state businesses.
If you are collecting sales tax in multiple states, the complexity only grows. With states short on cash, state and local governments are revising tax laws and hiring more auditors to increase revenue. What’s not taxable today could be taxable tomorrow. What’s taxable in one state may not be in another. Any given rate can change one week to the next, and it just gets exponentially more complicated depending on where you do business.
Automating the tax calculation and decision process can save time, money and effort. Put a solution in place that can make compliance as easy as pushing a button and scale with your business as you expand into new markets. Avalara tax automation solutions integrate with Sage 100, Sage 500, Microsoft Dynamics GP and NetSuite, along with most ecommerce shopping carts and POS systems to help you achieve compliance and accuracy for all your transactional tax needs.
For more information on how to reduce your risk, join us for our FREE, upcoming webinar:
The Key to Easy Sales Tax Management
10:00AM ET, May 7th, 2014
If you are unable to attend but would like to learn more, please contact us at firstname.lastname@example.org