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What Is Sales and Use Tax?
Sales tax is imposed by many state and local jurisdictions on purchases of taxable products and services in their areas. Sellers who have nexus in these locations collect the tax from customers and remit it to jurisdictions.
Use tax is remitted to the state by a buyer of taxable items when the buyer purchases a taxable product in the state, and the seller did not collect and remit sales tax.
It is no secret that nexus is complicated. There are a multitude of considerations to observe including your sales tax obligations, regulatory requirements, and the vast changes to the way buyers are buying and how sellers are selling. Each transaction and business strategy is unique. With the essence of sales tax being so complicated, especially with rapidly changing legislation, and sales and use tax laws varying by state, the application of regulations can be intricate. How sales and use tax liabilities are addressed impacts a business’s legal and financial well-being.
Cherry Bekaert’s Sale & Use Tax practice is consistently staying up-to-date with these complicated tax considerations to take the burden off of you and your teams.
Our Sales & Use Tax professionals specialize in navigating these unique sales tax issues impacting these core sectors:
- E-commerce
- Technology
- Industrial Manufacturing
