Do you have a handle on the Sales Tax Changes? Confused about the latest Scotus Ruling around Sales Tax and whether that applies to your organization or not? I don’t blame you, as I learned a few new things last week when the SSi team met with Dan Petry, the Strategic Development Manager at Avalara. Here are some of the things that surprised me:
1. Non-Profits need to pay attention to this new ruling. In the past, Non-Profit organizations were typically exempt from having to collect and pay Sales Tax. Now, that is not necessarily true. The changes around Nexus as a result of the Quill Corp vs. North Dakota might change if you have Nexus or not.
2. Stating on your invoice that “Sales Tax is the responsibility of the purchaser” is no longer an acceptable practice. You need to have Tax Exempt Certificates for each purchaser and each state.
3. Many states have been changing their Nexus laws for the last several years. It is easy to miss some of the regulation changes and get caught paying a fine.
4. Avalara and Sage Intacct are working together to ensure that your sales transactions are being taxed correctly and that you are tracking all your Tax-Exempt Certifications. Using the workflow in Sage Intacct in combination with Avalara makes the process easy.
Want to learn more?
Interested in learning more about how these changes might affect your bottom line? Set up an appointment to learn more about the changes and how we can help you prevent problems at your next Sales tax Audit.
Suzy Zgorski, Assistant Vice President