State Sales and B&O Tax Services
With cloud computing services and other internet-based service and retail businesses continuing to reshape the face of commerce, state laws and regulations are continuing to change. Your time and energy is best spent on managing your business, not keeping track of the latest tax change in half a dozen states. Leave it up to GPL to keep track of the ever-changing e-commerce tax climate.
- Ensure that your local and state sales, B&O, and use taxes are properly accounted for, based on where your business is based and where your income is being generated.
- Ensure that your state sales, use, and B&O taxes are remitted to the proper authorities in a timely fashion.
- Keep your company books in accordance with the highest compliance and ethical standards demanded by the various state and local authorities.
- Address any questions that are raised by state and local taxing authorities, and even provide you with representation if an audit should occur.
Question: What if I sell to customers in different states?
Answer: This is a common situation faced by businesses engaging in e-commerce, or providing cloud-based computing services (SaaS, PaaS, or BaaS to name a few). Here’s what you need to know:
- If your business has a physical presence, or “nexus.” in a state, then you may have to collect sales tax from customers in that state.
- If you don’t have a physical presence or nexus in a state, then you are NOT required to collect sales taxes for that state.
- If you collect sales tax for a state, you must return the sales tax to that state.
GPL’s accounting team prides itself on staying informed on the latest developments in the business accounting world. We stay on top of developments, so our clients don’t have to. We also treat the success of our clients as our success, so the thorny issue of state taxes—one that gets so many businesses in trouble through neglect or oversight—is one that our team members pay close attention to.
Mary Beth Felker
GPL Tax & Accounting is here to handle your personal and business tax preparation and planning needs. We can also handle your bookkeeping and accounting requirements. GPL provides all the tools and know-how you need to plan and grow your business while staying compliant with local, state, federal, and international tax regulations.
Do all states have sales tax?
Do I have to collect sales tax?
What happens if I fail to collect sales tax in a particular state?