E-Commerce Sales Taxing Your Compliance and Financial Systems?

E-Commerce Sales: Tax Compliance
Considering the typical requirements of collecting the proper sales tax at several hundred or more retail locations, retailers’ tax and financial experts need to track applicable rates, exceptions, exemptions, holidays and special rules solely relevant to their physical stores. Traditionally, retailers also needed to incorporate these changes into their point-of-sale (POS) systems to determine pricing and tender amounts at each store location. If a retailer operates in hundreds of locations, it needs to track the “tax area” or combination of jurisdictions that govern those locations.