08 Oct 2020
1 min read

Getting Sales Tax Compliant for 2021

Secure Your Business Future by Ensuring Sales Tax Compliance Before the Year Ends
Table of contents

2021 vs 2020

Everyone is crossing their fingers that 2021 is smoother than 2020. But one way you can ensure your next year is better is getting sales tax compliant.

Sales tax compliance is complex, but it’s easier and more cost-effective to address sooner rather than later.

State audits are a serious drain on time, resources and profitability if your business is unprepared. The average sales tax audit costs business $114,147. Businesses that are out of compliance, have gone through an acquisition or experience rapid sales growth are especially at risk.

If that weren’t enough, states are likely to expand sales taxability and audit more aggressively in 2021. For businesses that aren’t sales tax compliant, this could be the toughest year yet.

The good news is that every business can get sales tax compliant. While the rest of the business landscape is unpredictable, sales tax compliance is one aspect you can control.

While regulations shift constantly, you can follow the following steps to get compliant:

Steps to get compliant

  1. Conduct a nexus review.
  2. Identify your taxability.
  3. Get registered and address unpaid liability.
  4. Collect & remit sales tax wherever you have nexus.
  5. Create your audit defense plan.

As we're about to enter the final quarter of the year, your planning for 2021 is likely well underway. Now is the perfect time to set yourself up for success by making sure sales tax doesn't become an issue for you in the new year.

Need assistance getting sales tax compliant for 2021? We’re here to help. Take our short What’s Next questionnaire to get started.

Share this post
Copy link
Contact us
Stop worrying about sales tax
Let The Sales Tax People take care of it for you.
Blog Article Form
Latest posts
The Sales Tax Blog
Updates, tips, guides, industry best practices, and news.
View all posts
Join our newsletter
Be in the know: promotions, industry news & insights.
Newsletter Sign Up - "Subscribe"

We care about your data — privacy policy.