When it comes to sales and use taxes, you are collecting the government’s money. So, you better do it right. But as early stage online vendors, how do you know if you need to collect tax or not?
The short answer is, as product and service vendors, you probably do as a result of Wayfair. This 2018 U.S. Supreme Court decision gave all states the power to make your business tax trustees of the state, collecting and remitting sales and use tax on remote sales. This includes users of Amazon/FBA, Etsy and other online marketplaces. Penalties for getting it wrong can staff out an emerging company.
Where you collect, how you collect, and what you collect among the more than 9,000 taxing jurisdictions in the U.S. is simply mind-boggling to monitor. And knowing how much your business owes at any given time, without overcharging can tie a company up in knots.
Leading state and local tax expert Judy Vorndran of TaxOps will give you an update on your sales tax obligations state-by-state, with an emphasis on several of the trickiest states–Colorado, California, and Texas. She’ll also provide real life examples of how sales and use tax impacts all stages of business development, from launch to exit, and take-home resources to help ease the compliance burden. Known for her fun, interactive workshops, Judy is dually-licensed as a CPA and attorney and will respond to questions throughout the session.
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