Sales and use tax compliance is a challenge for many businesses because they must navigate thousands of state and local sales and use tax jurisdictions. Whether determining nexus, reporting obligations or the correct tax rate, sales and use tax compliance seems unending and unmanageable. Without an experienced multistate tax staff, businesses may be under- or over reporting sales and use tax, creating compliance risks and competitive disadvantages.
As consumer preferences shift to more online purchases and states scramble to update sales tax laws to better address a changing economy, sales and use tax compliance within a digital footprint and across multiple states is more complex than ever. Landmark court cases are also changing the tax landscape. Even after three years, many middle market businesses have yet to comply with the 2018 South Dakota v Wayfair decision, which permitted the states to impose sales and use tax registration, collection and remittance obligations on remote businesses with a certain sales or revenue threshold in a state.
RSM tax professionals combine superior tax knowledge with business acumen to help improve our clients’ overall success. We take the time to understand your business, the locations of your customers and the states in which you operate. With our deep tax knowledge of state-specific requirements, we can offer a customized process solution to help minimize overpayment/underpayment and help improve your overall efficiency.