Client Success Story
A Midwest company that sells farm
and ranch supplies has new nexus requirements as a result of the South Dakota v. Wayfair decision.
Tracking and calculating tax rates for all states and local jurisdictions was enough work for a full-time position. The tax software maps billing system product codes to Vertex Taxability Categories, and updates automatically when taxability content and tax rates change. This saves time and frees up resource to focus on business strategy.
The new software launched prior to the April 1 target date, which minimized potential risk and penalties had the company not been in compliance.
BDO helped the company use the new software to manage taxability and exemption certificates.
The software provides a central reporting source which saves time when filing tax returns and provides a historical record in the event of an audit.
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