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Wake Up and Make the Auditor Some Coffee3
Why is NOW the Perfect Time for Accountants to Revisit Sales Tax?3
CPA Survey Results4
Why Sales Tax Should be on Your Radar5
Sales Tax Radar #1: Existing Rules (In a Changing Enviroment)6
1. Stealth Bombs of Sales Tax6
2. Businesses Are Changing How They Sell and Buy7
3. Sales Tax Rates Change Constantly8
4. Transactions Are Crossing Jurisdictions at an Increasing Rate8
5. Jurisdictional Boundaries Are Harder to Determine8
6. States Need Revenue9
Figure 1: The Expanding Reach of an Audit9
Dependency on Sales Tax for State Revenue10
7. Expanding List of Items Subject to Sales Tax11
8. The High Cost of a Sales Tax Audit11
Sales Tax Radar #2: New Rules (and Opportunities)12
Understand the “Streamlined” Effect12
Summary of Key Provisions of the Streamlined Sales and Use Tax Agreement13
Your Clients Will Need Help in Evaluating Their Options14
Which State Gets Paid?14
Origin versus Destination States15
Special Provisions May Benefi t Your Clients16
Administration across Multiple States is Simplified16
Figure 2: Streamlined State Status 7.01.0816
Considerations for Voluntarily Complying With SST17
Put Sales Tax Out of Your Mind17
The Options17
The Best Solution18
Software as a Service19
What to Look For in a SaaS Sales Tax Solution20
Figure 3: Sales Tax Decisions That Can Be Automated21
On the Radar, But Off of Your Mind21