Our first quarter has just wrapped up!
What a crazy year 2020 has been. Has your business plan pivoted because of the COVID- 19?
Our hope for you is that your business is continuing to grow even during these uncertain times. If you are modifying your business plan don’t forget to see if your new strategy will affect if you need to be paying sales tax.
How do you know you need to pay sales tax?
Ask yourself, are you selling something you can touch? Then that product is usually taxable. How are you selling your products, are you using a marketplace? Then it’s likely taxable. If you are using a marketplace do you know if your business or the marketplace you are selling through are collecting and remitting those taxes? All of this varies state to state.
For full article visit https://www.avalara.com/us/en/learn/guides/frequently-asked-questions-for-getting-started-with-sales-tax-compliance.html
Want more accounting tips and tricks or help in understanding your financials? Download our financial goal setting worksheet.
For more information about sales tax visit
https://www.avalara.com/simplify/en/avatax/download-tax-rate-tables.html
https://www.avalara.com/us/en/learn/nexus/find_your_nexus.html
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