Sales Tax Compliance
Monitoring sales activity for nexus determination as well as complying with the new guidelines has made sales and use tax compliance much more of an administrative burden.
Simplify Your Sales Tax Obligations
Understanding Sales Tax
Sales tax is a consumption tax levied by governments on the sale of certain goods and services. It's typically collected by the seller at the point of purchase and then remitted to the appropriate state or local tax authority. The tax rate can vary depending on the location and the type of product or service being sold.
- Who collects it: Retailers (sellers) are responsible for collecting sales tax from customers.
- Who pays it: Customers pay the sales tax at the time of purchase, usually included in the final price they see. The retailer then sends the tax they collected to the state.
- Where does it go: Sales tax revenue is used by state and local governments to fund various public services and infrastructure projects.
- Rate variations: Sales tax rates can differ between states, counties, and even cities within the same state.
What Is Sales Tax Compliance?
Sales tax compliance refers to the process of a business adhering to all the regulations associated with sales tax collection and remittance. This involves several key steps all of which we are able to help with:
- Nexus determination: Identifying whether your business has a sales tax filing obligation in a particular state, usually based on factors like physical presence or exceeding a certain sales threshold.
- Sales tax rate calculations: Applying the correct tax rate for each transaction based on the product, service, and location.
- Filing and remittance: Submitting accurate sales tax returns and remitting the collected tax to the appropriate tax authority on a timely basis.
- Recordkeeping: Maintaining proper records of all sales transactions and tax calculations for potential audits.
Sales Tax Compliance Solutions
Clarus Partners takes the burden off your shoulders and ensures seamless sales tax compliance. We handle everything from nexus determination and return preparation to timely filing, proactive notice management, and meticulous reconciliations. Our team:
- Maintains accurate and reliable records
- Manages your compliance calendar
- Provides comprehensive consulting to keep you informed and prepared
Leave the complexities of sales tax to us, so you can focus on running your business with confidence. We focus on:
Tax Return Preparation & Filing
Accurate & Timely
Payment Remittance
Secure & On-Time
Notice Management
Prompt Resolution
Reconciliation
Accurate & Reliable Records
Compliance Calendar Management
Proactive & Deadline-Driven
Comprehensive
Compliance & Consulting
AkuCalc: Your Automated
Sales Tax Solution
At Clarus Partners, we understand that managing sales tax can be a manual and error-prone process. That's why we offer AkuCalc, our innovative sales tax automation software designed to simplify compliance for businesses of all sizes.
AkuCalc streamlines your sales tax processes by:
- Automating workflows
- Allowing for customization rules for tax rates
AkuCalc integrates seamlessly with your existing accounting software, making it easy to implement and use. Our team of experts will provide you with the training and support you need to get started with AkuCalc and maximize its benefits.
The Wayfair Effect: Why Sales Tax Compliance Matters More Than Ever
The 2018 Supreme Court decision in South Dakota v. Wayfair fundamentally changed the landscape of sales tax compliance. Prior to Wayfair, businesses typically only needed to collect sales tax in states where they had a physical presence (like a brick-and-mortar store). However, the Wayfair decision established the concept of economic nexus, allowing states to require sales tax collection from businesses exceeding a certain sales threshold or transaction volume within their borders, regardless of physical presence.
This shift has significantly impacted businesses of all sizes, making it crucial to have a proactive and multi-jurisdictional approach to sales tax compliance. At Clarus Partners, we understand the complexities of the post-Wayfair era and are ready to help you.
Why Clarus Is The Clear Choice
Clarus Partners understands the challenges businesses face with sales tax, from determining economic nexus to calculating and collecting the correct rates across various jurisdictions. We offer a comprehensive suite of sales tax compliance services designed to simplify the process and ensure you remain in good standing with tax authorities.
Our people make the difference: We deliver our compliance services through a collaborative team environment. We are unique and offer a complete solution by bringing people, process and technology to the table.
Our team of experts can handle all your sales tax needs, from nexus determination to filing and remittance. Contact Clarus Partners today.
Request Consultation
Please fill out the form or contact us to request a consultation. Our team is available to assist you with any questions and provide you with a seamless consultation experience.