As commerce grows increasingly virtual, lawmakers are adapting legislation to help maximize tax revenue in their states. But with all the changes, it's all accounting and finance professionals can do to keep up. Wakefield Research investigated why sales and use tax compliance is so complex and difficult to get right, and the results are contained in this free, downloadable report.
The report draws upon a 2017 survey, which looked into what leading and emerging companies in the U.S. know (and don’t know) about sales and use tax compliance. Most importantly, it looks at what accounting and finance professionals who work for these companies are doing to keep up with the ever-changing tax rules and maintain accurate accounting processes to safeguard their business from potential audits.
This report covers:
- The average cost of a sales and use tax audit
- The most common ways companies trigger nexus (the obligation to file and remit) in many states
- The average number of people companies hire to manage tax compliance
- The average number of hours companies spend on the compliance process
Download the report 2017 Wakefield Research Report now, and learn to avoid some of the misconceptions of sales and use tax compliance.