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Sales Tax Survival Guide 2013

Sales Tax Survival Guide 2013

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Published by avalara
2013 proves to be a year of dramatic change to sales tax statutes and oversight at the state and federal levels. This guide offers tips and strategies to manage those changes without unnecessary exposure to audit risk.
2013 proves to be a year of dramatic change to sales tax statutes and oversight at the state and federal levels. This guide offers tips and strategies to manage those changes without unnecessary exposure to audit risk.

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Categories:Types, Business/Law
Published by: avalara on Apr 29, 2013
Copyright:Traditional Copyright: All rights reserved

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09/30/2013

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SALES TAXSURVIVAL GUIDE
2013
 
Until recently, sales tax received little media attention outside o thetax and compliance arena. Then large states like Caliornia and Texasenacted laws requiring online retailers such as Amazon to collect salestax or the frst time. Soon other states ollowed suit. A similar shake-upat the ederal level is pending: The Marketplace Fairness Act o 2013 givesstates permission to require sales tax collection rom all remote sellers, i the states can streamline their sales tax processes.Considering the already impenetrable maze o sales tax collection rules,businesses ace an uphill battle this year. Sales tax compliance in 2013requires more resources and expertise than most small to midsizedbusinesses possess.This Sales Tax Survival Guide will help you:Understand the challenges and risks associated with managingsales tax compliance.Develop strategies to help you survive sales tax challenges.Know which state and ederal sales tax changes will impact yourbottom line.
SALES TAXSURVIVAL GUIDE
 
1. Sales tax
Sales tax is a tax charged at the point o purchase orcertain goods and services. The tax amount is usuallycalculated by applying a percentage rate to the taxableprice o a sale. A portion o the sale may be exemptrom the calculation o tax because sales tax lawsusually contain a list o exemptions. The seller collectsmost sales taxes rom the buyer and remits the tax to agovernment agency.
2. Use tax
Use tax is a tax imposed on a consumer or the storage,use, or consumption o tangible personal property(TPP) when sales tax was not paid on the original sale.Use tax is the complementary tax to sales tax and istypically assessed at the same rate as any sales taxthat would have been owed. Purchases made over theInternet and out-o-state are the most common typeso transactions subject to use tax. Use tax must also bepaid when a business withdraws goods rom inventoryor its own use, i sales tax was not paid on those itemsat the time o purchase.Unortunately, this is only the beginning o the salestax survival challenge in 2013. Current state and ederalproposals to change remote sales tax collectionrequirements add to an already difcult complianceenvironment or businesses.
SALES TAX CHALLENGES
So what exactly is sales tax?
 

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