The Retailer's Guide to Compliance
Retailers have never had more avenues to sell their products to new and returning customers. Multichannel sellers can meet these customers where they are, selling to them in-person at brick-and-mortar locations, from their own website, on social media, and through marketplaces big and small, in addition to wholesale.
While the opportunities to sell products are plentiful, merchants that use complex channel strategies – no matter the retail category or business model – also face cumbersome sales tax compliance obligations. It can be difficult to gain a full picture of your company’s financial health without tying in sales data from all those channels to create a single source of truth. The more products you sell in more states, the higher your potential for sales tax liability. Sellers can use this guide to gain a deeper understanding of how to stay ahead of their tax obligations while growing their business.
Here’s what you’ll learn in this retailer-focused guide:
- Understand the different thresholds that trigger whether or not you collect sales tax
- Gain a clear picture of your tax obligations with unified, multichannel reporting
- Master product taxability with precise product classification
- Get a handle on shipping taxability
- Grow an e-commerce stack and manage integrations
Read what the guide has to say about the importance of accurate reporting:
When you’re selling across multiple channels, knowing where you’re required to collect and remit sales tax (and when) is helpful for being able to predict future liabilities, to keep an eye on sales and your company’s growth, and helps you be prepared for any subsequent compliance issues. If your current reporting only gives you a partial picture of your sales from a few select channels, is it really allowing you to assess your company’s full financial health? Look for a solution that compiles data from all your linked accounts and CSV imports into a reporting dashboard, as well as from individual state sales tax reports. Knowing your sales figures from every channel in every state is a key to compliance.
Download the guide for a deep dive into compliance for retailers.