It can be confusing managing sales tax on products or services that are exempt from sales tax. What if you are audited, do you have records of valid documentation for each transaction? If you don’t you could face fines, tax penalties. Throw into the mix the SCOTUS ruling on South Dakota v Wayfair ruling were states can now charge sales tax on purchases made from out of state sellers, even those without a physical presence.
Managing exempt sales during the rise of Economic Nexus
