For companies with aggressive growth goals, managing sales tax can be a challenge. While you’re working to get more customers, more sales, or more products into market, you’re also creating more tax liability.
Often, companies don’t realize they’re creating risk from these growth activities. But state auditors are on high alert now that economic nexus is in effect, so chances are, if your business is changing, they’re aware of it.
Sell through ecommerce sites or online marketplaces
Add new products or services
Seek financing, IPO, or engage in M&A activities
And learn what you can do to prepare for sales tax fallout from growth activities, so it doesn’t stall your plans!
There’s nothing more satisfying than seeing your company achieve its growth goals. But the more targets you meet, the more likely you'll hit another key milestone: sales tax nexus.
When you change where and how you do business, you can also change where and how you need to collect and remit sales tax. And while more sales and customers are bonuses, more work required to keep you sales tax compliant isn’t much of a perk.
If you want to conquer the world, you first have to conquer tax compliance. Get your sales tax in line before you venture outside the lines. Use this guide on navigating 5 Ways Growth Complicates Sales Tax – get your copy today.
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About "xTuple" (verb) — to grow; to increase exponentially. Our mission is to help manufacturing and inventory-centric companies use management software and best practices to grow their business profitably.