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Q&A

 

The Changing Tax Landscape: Can Your Technology Handle It?

What the Wayfair sales tax ruling means for SAP customers

November 06, 2018

Panelists: Michael Bernard, Nancy Manzano, Mark Sieczkowski 
Date: Tuesday, November 6th, 2018

There’s never been a greater need for powerful, scalable and integrated tax data management capabilities.

While this is the case throughout the enterprise as digital transformation efforts advance, it is especially relevant to corporate tax functions within retail companies who are selling  to U.S. customers following a momentous U.S. Supreme Court decision in June 2018.

The South Dakota v. Wayfair ruling allows U.S. states to require remote sellers to collect sales and use tax on  transactions shipped into the state if certain economic nexus thresholds are met. Now that several months have passed,  states are creating, finalizing and/or implementing online sales tax collection requirements that had either been in legal limbo or did not exist prior to the Court’s historic decision.

To answer SAP customer questions, a panel of experts from Vertex Inc.'s Chief Tax Office and Product Management joined this live Q&A and shared tips around the changing tax landscape, best practices on reducing compliance risk and the steps organizations need to be thinking about in order to reduce their risk.

Read the Q&A transcript to get answers to learn why integrating tax solutions within the enterprise resource planning (ERP) and other business applications tools is even more crucial now and how tax management applications, such as Vertex Cloud, can more easily run real-time analyses, streamline tax calculation and compliance, and reduce tax compliance risks. Questions answered include:

  • What is the Wayfair case all about?
  • What is the overall impact of the Wayfair decision?
  • Is the first $100,000 of sales (or 200 transactions) tax-free each year?
  • We sell wholesale to retailers. Do we now have to track the sales by state, and if we meet a threshold, do we need to file even if we have no liability?
  • How many states have implemented legislation to address the new revenue possibilities with Wayfair? Do you anticipate that all will follow?
  • We are an entity outside the US but have business-to-consumer (B2C) sales in the US. I assume we will be held to the same calculation and filing requirements? Are there any exceptions for foreign entities?
  • What should businesses be doing now?
  • Does Vertex have a special integration into an SAP environment?

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