Sales & Use Tax

Managed Self-Audits Result in Simpler Reporting Procedures

Understanding and complying with sales and use tax laws is a complex, potentially frustrating challenge. However, lack of care can cost a company both interest and penalties on unpaid tax. States

Canada: Provincial Sales Taxes (PST)

Three provinces in Canada, namely British Columbia, Saskatchewan, and Manitoba have their own tax statutes to impose a Provincial Sales Tax (PST). The province of Alberta and the… Read More

Canada: Goods and Services Tax And Harmonized Sales Tax

The following material defines and describes Canada's Goods and Services Tax and Harmonized Sales Tax (GST/HST). Its purpose is to provide the reader with an understanding of the basics of the tax.… Read More

When Was the Last Time You Conducted an AP Regulatory Compliance Review?

A regulatory compliance review should be performed by every accounts payable department, advises IOFM's Education Director Pam Miller and other leading compliance experts. The following approach can

Options for the Calculation and Payment of Sales & Use Taxes

More than 7,000 different authorities impose their own taxes in the U.S. alone. This includes approximately 1,600 counties and 4,500 cities. "The structure of a contract, the format of a purchase

Is Your Company Likely to Encounter State Tax Auditors?

Within the last ten years, states have ramped up efforts to enforce sales tax compliance. Audits have become more frequent and states have identified increased sales tax audits as a way to close the

Avoid Tax Audits by Automating Your Sales and Use Tax Reporting

In two recent surveys conducted by Vertex Inc., one of finance professionals and the other of state audit officials, respondents were asked how sales and use tax assessments might be reduced and how

Are You Among the Best-in-Class at Calculating Sales & Use Tax?

According to The Aberdeen Group, companies can only reduce their sales and use tax audit exposure and risk by being proactive in their tax due diligence process. "Organizations must make sure that

Medical Device Excise Tax

Hospitals and other organizations that purchase medical devices will likely notice prices on their invoices creep up beginning in 2013. A provision of the Patient Protection and Affordable Care Act

Simplifying Drop Shipments

When To Drop Ship Which Tax Rate Applies? Online Sales Tax Law Could Complicate – Or Simplify – Nexus Common Drop Shipment Invoicing Problems Navigating Exemption Certificates Direct Pay… Read More