Sheep, Sleep, and Sales Tax: How We're Putting Tax Troubles to Bed

What's keeping you up at night? I know, you're thinking, "What a cliché question!" Right?

The other day, I mentioned to some colleagues that we've added new team members at Miles Consulting. Their response? "How do you keep so many people busy with sales tax?" We've heard that one before! My go-to answer is, "It's not so much the sales tax you PAY, it's understanding when and where you need to collect it!"

So, what's really keeping our clients tossing and turning... until they call us? Here are some recent examples of how we're helping clients catch those elusive Z's:

* A retail client selling products online: They're using both their own website and Amazon. Their sales tax software mistakenly collected tax on all sales, instead of just website sales to end consumers. (Amazon, as a marketplace facilitator, handles tax collection for their portal.) We're filing amended returns in multiple states to secure credits for overpaid sales tax. Result? Sheep... counting themselves!

* An international SaaS company with revenue from software subscriptions and payment processing: They weren't aware of the sales tax implications for either stream. We're conducting exposure analysis, retroactive remediation, customer outreach, and getting them up to speed on filings. It's a months-long process, but with our guidance, they'll become compliant, minimize penalties and back-exposure, and set themselves up for proper future filings. Sheep... still jumping, but the pasture's end is in sight!

* A California company with online sales facing a state audit: Before enlisting our help, they were "going it alone" and staring down a hefty preliminary liability. (We're actually helping at least 4 clients in similar situations!) DIY is great for gardening or minor home repairs – not so much when dealing with revenue departments or California's CDTFA. Sheep... might lose some wool, but keeping more fleece by working with us! Stay tuned.

We also offer nexus reviews, taxability studies, ruling requests, voluntary disclosure, and sales tax compliance services. If any of these are disrupting your sleep, give us a call and in the meantime, check out our articles below on the benefits of outsourcing compliance, and a comprehensive guide to sales tax exemptions.

BENEFITS OF OUTSOURCING SALES TAX COMPLIANCE

Sales tax compliance is a crucial but complex aspect of running a business in the United States. But it’s tax, and so it comes with constantly evolving regulations and varying rules across states that make it a daunting task for many businesses. However, there is a solution that can help you navigate these complexities efficiently: outsourcing sales tax compliance.

We talk about that in this latest article – we have some practical insights into the benefits of outsourcing sales tax compliance and how to choose the right partner for your business.?

SALES TAX EXEMPTIONS FOR BOTH SELLERS AND PURCHASERS: A COMPREHENSIVE GUIDE

Properly collecting sales tax is a fundamental component of selling goods that impacts pricing and financial outcomes for businesses. Understanding and utilizing sales tax exemptions is crucial for optimizing financial performance and ensuring compliance. We’ve put together this short guide as an overview of sales tax exemptions for sellers and purchasers.

ABOUT MILES CONSULTING GROUP

Miles Consulting Group, Inc. is a professional services firm specializing in multi-state tax solutions. We address state and local tax issues for our clients, including general state tax consulting, nexus & taxability reviews, audit support, voluntary disclosure agreements, and other special projects. We also specialize in SaaS and other technology industries. For more information, visit www.milesconsultinggroup.com or book in a 20 minute consultation call with Monika.