Any retailer, even one operating in just one locality, knows that sales tax collection can quickly become complicated. Different goods and services may be subject to different rates or exempt from tax, and some purchasers may be exempt. Operating in multiple localities with different regimes only compounds the problem.
As if it were not enough to worry about audits by local tax authorities, companies that file reports with the Securities and Exchange Commission may also need to be concerned with the adequacy of their sales tax compliance controls.Continue Reading How’s Your Sales Tax Software? The SEC May Be Interested