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Indirect Tax
Managing obligations and maximizing efficiency in the U.S. and global marketplace
An indirect tax is collected by one entity in the supply chain and paid to the government by the retailer. The expense is passed on to the consumer as part of the purchase price. Indirect taxes generate significant revenue for the state or country that imposes the tax. Although indirect tax is common in the United States and throughout the global economy, it is complicated and many businesses are not getting it right.
Thousands of state and local taxing jurisdictions in the United States complicates any company’s sales and use tax compliance. When compounded with global growth and sales, the addition of value added tax (VAT) and goods and services tax (GST), companies are exposed to significant risk.
Proper indirect tax planning is a vital component of a businesses’ financial and operational strategy. Growing into new markets, expanding product lines and many other common business activities that generate profits often increase your indirect tax exposure.
most recent indirect tax insights
State tax exposure a concern for retooled PPE manufacturers
Manufacturers changing over operations in order to create personal protective equipment may be exposed to new state tax liabilities.
Cash flow and tax issues for tech companies in a COVID-19 environment
Technology subsectors are not immune to the economic shock of COVID-19. However, they could see growth during this perilous environment.
Louisiana issues Wayfair collection and registration guidance
The Louisiana Sales and Use Tax Commission announced guidance for remote sellers exceeding the nexus thresholds beginning July 1, 2020.
Maryland digital advertising gross receipts tax bill vetoed
First-of-its-kind tax would have imposed a gross receipts tax on large companies purchasing digital advertising in Maryland.
Life sciences supply chain considerations in the wake of the pandemic
Here are some ways coronavirus could leave its mark on the global VAT, trade and tariff landscape for the life sciences industry.
Virtual board of director meetings: State tax consequences
State nexus, income characterization and sourcing all potential and material concerns for businesses holding remote meetings.