Warehouse to web: How tax compliance is changing for manufacturers
Like any other industry, manufacturers are under pressure to grow. For many, this means exploring new sales channels like selling direct to consumers or via web stores. Making the transition from a largely tax-exempt environment to one where sales tax is now a requirement can be difficult – especially with the added pressure to keep a tight rein on efficiency and meet lean process goals.
Manufacturers and Sales Tax: New Channels, New Rules, identifies common ways growth can trigger new requirements for collecting and remitting sales tax including:
- Ecommerce sales – More consumers are buying online direct from manufacturers.
- Venturing overseas – International VAT regulations are very different from US sales tax.
- Selling more services – Installation, repair, maintenance, contract work can all complicate tax
And why tax automation is the best way to ensure you are doing tax compliance right and achieving your growth goals.