Post Wayfair Tax Compliance IssuesSeptember 26, 2018
The Wayfair jingle is a catchy one: “Wayfair, you got just what I need.” States are starting to hum this tune, too. And “just what they need” is more revenue in their coffers. Post Wayfair Tax Compliance Issues
The age of the internet has changed how businesses operate and created uncertainty regarding state tax. These changes have created huge gaps in state sales tax coffers that the states have struggled to stabilize — namely, the growth of internet-based sellers and changes in purchases by businesses. The lack of response to these changes compounds the issues. Although the fallout from South Dakota v. Wayfair Inc. has not settled, there are some common themes businesses should start to understand so they are better prepared for the new sales tax collection standard. Read this article to learn more.