This year, many state and local governments will count on sales tax to address their budget deficits, so they’re aggressively penalizing businesses who fail to comply. But the rules on sales and use tax are confusing and often misunderstood. Sales tax is owed on every item purchased, unless it’s raw material or an item for resale. And the tax is owed at the point of use – not at the company’s central headquarters.
To complicate matters further, over 11,500 jurisdictions levy sales tax in the U.S. – states, counties, townships and other localities. The rates vary greatly, and each agency can announce changes at any time. Just keeping up with the schedules can be a headache. Plus, you often need to be registered and licensed at each level. That’s not only time consuming, it’s costly.
Now you can hand the whole job over to FSi. We make it simple! We’ll take care of your remittance and paperwork at every level to assure your compliance. You’ll avoid costly penalties, and you can put your time to more profitable use.
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