three sales tax traps
DESCRIPTION
Sales tax compliance can prove dangerous to your business, especially if you don’t have all of the information you need to meet state requirements. View the slideshow below to see three common sales tax traps that cost businesses time and money.TRANSCRIPT
3
Sales
Tax
Traps
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Not realizing when states require you to
collect sales tax.
Image by Verbunkos
#1
Scholastic
thought they
had no nexus
in CT or TN
Now they
owe $3 mil to
CT and $5
mil to TN
Image by Refracted Moments
Getting caught
by different filing
frequencies.
Image by Eliya
#3
In Florida, most taxpayers file
quarterly, but if you collect
more than $1000 in a year, you
have to file monthly.
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Misplacing a state sales tax notice.
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#3
A levy to your bank account or the sheriff at your business.
Failing to respond to a notice may result in . . .
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11k TAX JURISDICTIONS
SHIFTING BOUNDARIES
CHANGING LAWS
MORE STATE AUDITS
IT IS NOT TOO LATE!
Find out how to
stay free of sales
tax traps at
Inforum 2012.
Session 2623:
The Top 12 Sales
Tax Practices for
2012.
Tues, April 24th
3:15-4:15 PM.