Once your business establishes nexus and you’ve ensured your products and/or services are taxable, you become responsible for collecting and remitting sales tax. That'd be pretty straightforward if it weren't for the 10,000+ taxing jurisdictions across the US that you have to keep up with.
If you have a sales tax obligation and are not collecting and remitting sales tax, you could be at risk for hefty penalties and fees. Even if it’s an honest mistake, it could be a costly one. In this podcast we will look at the ways you can get caught, how it may not be just your business at risk and some of the repercussions to being caught not being in compliance.
Brian - Chief Revenue Officer, Partner at TaxConnex
Jeff - Consulting Practice Leader, Partner at TaxConnex