Companies typically begin with a basic approach to sales tax: figure out the requirements of the state in which they’re headquartered, register with that state, and start collecting sales tax from customers in that state. That approach may work for a while, but as your business expands into new states (whether you have a physical presence there or not), the risk of non-compliance with sales tax becomes significant.
Smart finance leaders know they need to have a sales tax compliance strategy before they start getting notices from state tax authorities. Finance leaders of fast-growing companies also wear a lot of hats. You’ve got to manage planning, effective control, attracting investors, managing cash, and so much more.
This guide will help you understand the basics of a modern tax strategy and how to ensure your business isn’t caught off-guard.