Sales Tax Compliance By Small Businesses

It’s been 5 years since the U.S. Supreme Court decision gave the okay for states to require remote sellers to collect and remit sales tax by allowing “economic nexus” rather than physical presence to control sales taxes. According to Avalara’s 5th Annual Wayfair Survey, the majority of U.S. businesses (66%) say the online sales tax requirements are complex and confusing, but most (90%) believe they’re compliant. While 72% of businesses have adopted technology to ensure this sales tax compliance, almost a quarter of businesses have yet to do so. Nearly half of businesses (49%) have raised their prices because of economic nexus laws. #IdeaoftheDay

Check out today’s new blog post!