VATupdate

5 Common Sales Tax mistakes that can put you at risk for non-compliance

You’re trying to run a business and sales tax is not at the forefront of your plans. Nevertheless, you can do a quick check for the most common errors. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit.

  1. Misreading your nexus footprint
  2. Incorrect taxability assumptions
  3. Situsing complexities
  4. Drop shipments
  5. Lack of exemption documentation

Source Taxconnex

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