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Indirect tax consulting and compliance
Taxing transactions: Sales, purchases, intercompany and cross-border movements
At its core, there are three elements to indirect tax: the transaction, the tax liability of the transaction and the associated compliance obligation. At first glance, indirect tax is a relatively simple concept—but getting your associated compliance right is far from simple. There are more than 170 countries around the world operating a VAT system, but the U.S. operates a sales and use tax system with myriad rules, regulations, taxing jurisdictions and compliance obligations. In addition, the cross-border movement of goods introduces the possibility of customs duty and excise taxes as well as VAT.
Most tax authorities are unsympathetic to the mistakes businesses make managing their indirect taxes, and will consequently apply significant penalties.
RSM offers a full suite of consulting, compliance and automation services covering indirect taxes both domestically and globally from a highly trained and experienced U.S.-based team. We help companies avoid common mistakes by guiding them on the right path to managing each transaction. RSM professionals will work with you to establish processes and systems that mitigate risk, improve efficiency and meet your compliance obligations.
New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.
Updated emergency regulations and revised guidance explains the duration of COVID-19 nexus and withholding policies.
The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
The COVID economy and virtual transformation may provide the right opportunity to take control of supply chain management.
Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
Annual license renewals will be required for certain taxes, including the sales tax, sellers use tax and the simplified sellers use tax.