Growth isn’t a one-size-fits-all approach. In fact, companies expend a great deal of energy and resources deciding which pursuits will move the needle the furthest toward achieving specific goals, and where to prioritize their time and investment.
Over 30,000 organizations around the world have used NetSuite, the world's no.1 cloud business software suite, to integrate their ERP, financials, CRM, and ecommerce business functions on one platform. Yet, although they have streamlined the above elements of their business, when it comes to taxation and tax compliance, several organizations still struggle to make sense of varying sales tax rates, regulation, rules, deadlines, penalties, etc. This lack of clarity can consume large chunks of time and internal resources that could be used more productively elsewhere. Also, it could result in expensive audits and setbacks to the reputation of the company.
“In this world, nothing can be said to be certain, except death and taxes.” -Benjamin Franklin
April 15, the deadline for filing of taxes, is just a few days away. Invariably, the date brings about some amount of apprehension in most of us. There are many small and medium business owners who are unclear about what exactly Sales Tax is, or how it differs from Use Tax.