In this episode of the SALTovation podcast, we speak with Mike Bernard, VP of Tax Content and Chief Tax Officer at Vertex, a global provider of indirect tax software solutions. As tax complexities increase and technology advances, Mike shares his invaluable insights drawn from his vast experience in the tax domain. We delve into the role of a Chief Tax Officer at a software company, the importance of understanding clients' unique needs, and the challenges of implementing and upgrading tax technology. Mike also shares insights on the future of sales tax compliance and the work Vertex does to advocate for administrative ease and efficiency in tax policy.

Topics discussed in this episode:

• Mike brings a wealth of experience from his background as US Tax Counsel at Microsoft and now as Chief Tax Officer at Vertex.
• Vertex Inc. prioritizes staying current with tax updates through monthly data updates and maintaining solid professional relationships with Departments of Revenue.
• The conversation highlights the importance of adaptable tax software in handling various sales scenarios, including bundles and emerging digital assets like NFTs and cryptocurrencies.
• The need for upfront investment in understanding business systems to create efficient and compliant tax reporting solutions.
• Engagement with Multi-State Tax Commissions and Departments of Revenue helps Vertex in navigating and influencing the administrative aspect of evolving tax policies without direct lobbying.

Quotables

• “One thing that you find out at Vertex when you serve a larger community of customers is that you have to come with this idea that they're all on their technology journey. Nobody's ever the same. Even though they may be in the retail business as an industry, or they may be in oil and gas, or they may be in leasing, or they may be in financial services, they're all at a different place as you move along their journey as to how technologically capable they are of serving not just their internal corporation, but their customers.” -Mike Bernard [07:49]

• “You always have to gauge yourself and give them the ability to move up or move down wherever they're at in that space and serve them the best that you can. some clients require a more handheld type of service and others, you can put things out there and give them a direction. then check back with them in a week and they will have accomplished some of the things that they set out to do.” -Mike Bernard [12:10]

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