VATupdate

The true cost of sales and use tax non-compliance

In a best-case scenario, the cost of Sales and Use Tax (SUT) non-compliance may add up to a few hundred dollars in fines. In a worst-case scenario? Penalties, fees, back taxes, and potentially even litigation damages can devastate a business.

Let’s look at all the potential non-compliance penalties businesses can face and talk about mitigation strategies your firm can use to help soften the blow.

Source: lumatax.com

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