Economic Nexus Since the Wayfair Decision: Frequently Asked Questions About Sales and Use Taxes (Part 3)

The South Dakota v. Wayfair, Inc., decision and economic nexus laws have changed the landscape for taxpayers who sell tangible personal property or provide services that are subject to sales and use taxes. This new landscape has increased the administrative burden on taxpayers and their filing and reporting requirements. 

Weaver’s four-part series of frequently asked questions will help you understand this new sales tax landscape and how it may impact your company. 

Part 3: Sales Tax Compliance Automation Systems and Tools

What items should we consider when selecting a sales tax automation system that is right for us?

Sales tax laws and rates frequently change. It is important to select a vendor that delivers timely and accurate information and has experience working with your enterprise resource planning (ERP) accounting software.

What does it mean to be SST Certified Service Provider (CSP)?

A CSP is an agent certified under the Streamlined Sales and Use Tax Agreement to perform all the seller’s sales and use tax functions, other than the seller’s obligation to remit tax on its own purchases.

After our company implements a sales tax automation system, who is responsible for an assessment in the event of an audit?

The taxpayer is responsible for any assessments.

Our company needs help. What should we do?

Call us! There are many potential options for sales tax automation systems and tools. Our clients lean on our experience to guide them and help compare possible options for sales tax automation tools and processes.

Read more from our “Frequently Asked Questions” series: 

• Part 1: Is My Company Affected by New Economic Nexus Laws?
• Part 2: My Company Meets Sales Tax Thresholds in New States. What Now?
• Part 4: Sales Tax Compliance and the Audit

To discuss your situation and learn how Weaver can help you, please schedule a complimentary consultation with our team.