By Diane Yetter, President and Founder of Sales Tax Institute
When it comes to building a strategy to manage sales tax, every company will have its own set of obligations, complications and concerns. What is consistent among nimble sales tax strategies (those that improve efficiency and adaptability while reducing risk) are the components you need to think about. Each company must address critical sales tax issues specific to its business operations and industry like nexus and taxability, build a cross-functional team with internal and external partners and ultimately create a strategy that adapts to changes in the business and in the law.
A reactive approach to managing sales tax will stress you out unnecessarily. You need a strategy that helps you be proactive in the face of the ever-changing sales tax landscape and supports the overall success of the business.
Source: SOVOS
