Salt. Tea. Whiskey. Wine. Transportation. Sanitation. Consumption. Burdensome consumer taxation dates backs centuries, sparking riots, revolts and even two revolutionary wars. The “gabelle,” a tax on salt by the French monarchy is said to have led to the French Revolution and the Boston Tea Party, an uprising by America’s colonists against Britain’s Tea Act of 1773, was a catalyst to the American Revolution.
So it’s not without some irony that July 1 marks the date when many U.S. states put their newly increased sales tax rates into effect — the same month when both France and the U.S. celebrate their independence. While a few percentage points increase hardly merits waging an all-out war against sales tax, revolutionizing the way you manage tax compliance is a worthy cause.
Racing to deliver the goods could put you on the fast track to sales tax nexus.
The Internet has vastly changed the way products move from buyer to seller. One-click ordering. Get it now. Two-day free delivery. The speed and ease of ecommerce and mobile commerce covers a lot of ground in terms of getting products into customers’ hands quickly. But it’s also rattling the supply chain; putting pressure on merchants, manufacturers and distributors to deliver the goods, so to speak. OHL, one of the nation’s largest third-party logistics firm, reports that e-fulfillment now represents a third of the company’s business.
Mitigating risk is a big part of running a business. It’s critical to protect the company against any disruption that could adversely impact operations, productivity or profit. Some tactics are obvious, like a security system and insurance policy. You hope you never need either one, but they provide piece of mind. What about a sales tax audit? Can you confidently say you take the same proactive stance to protect your business? Continue reading