Robert Kugel's Analyst Perspectives

Taxes on Internet Sales Would Drive Software Adoption

Posted by Robert Kugel on Jul 1, 2011 12:32:42 PM

Many companies have automated their sales and use tax processes to cut the effort required to execute them and to reduce the number of errors and their cost in dealing with a fiendishly complex set of rules and rates. This is one step in bringing tax into the mainstream of finance, which we advocate. Most people are familiar with sales tax; a “use tax” is a form of excise tax assessed on otherwise tax-free goods purchased by a resident of the assessing state regardless of where it was purchased. The use-tax rate is usually the same as the sales tax rate that would have been applied to an in-state purchase and is designed to serve the same purpose of generating revenue.

Read More

Topics: Sales, Tax, tax performance management, use tax, Business Performance Management (BPM), Financial Performance Management (FPM)