Sales and Use Tax Outsourcing

Sales and Use Tax Outsourcing

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Companies (NOT JUST ONLINE RETAILERS) without a physical presence are now required to collect sales tax.

That is the question every retailer currently not collecting sales tax must answer as more and more states adopt use tax notice and reporting requirements.

Wayfair Diagnostic Description

LBMC, PC will analyze whether your company’s current activity would create sales tax nexus in additional states in which it does not currently file a sales tax return. A summary of the sales tax nexus conclusions will be provided in a spreadsheet format.

The Diagnostic will be based upon the following information:

  • What states your company is currently registered and collecting sales tax (copies of most recent sales tax returns for each state along with any accompanying workpapers)
  • Your company’s sales by state report for the most recent 12-month period
  • Your company’s number (volume) of sales transactions by state report
  • Detailed description and explanation of the products and/or services your company sells
  • Detailed description and explanation of the customers your company sells to
  • Sample contracts (i.e., sales agreements, invoices, etc.)
  • Sample exemption certificates received from customers (if applicable) 

Wayfair: 10 Things You Need to Know

Outsourced Sales and Use Tax Services

Free up your staff for more value-added activities by outsourcing the monthly clerical and time-consuming preparation and filing of sales/use tax returns.

  • Sales Tax Nexus Studies
  • Receive your monthly data electronically from your ERP or billing system
  • Tax professionals review your data each month
  • Using state of the art software we prepare all returns.
  • Each filing is reviewed by an experienced sales/use tax professional.
  • Feedback is provided for errors or concerns that are found
  • Electronically file and pay your tax liability on your behalf (for all jurisdictions that can accept electronic filing/payment)
  • Provide you with electronic copies of all returns filed and confirmations of tax payments made.
  • LBMC also will keep on file electronic copies of returns filed and payment confirmations
  • Notices are reviewed and addressed related to returns filed/payments made.

We offer two levels of service:

Back Office Service

This would involve all of the above except LBMC will only prepare the returns and will return them back to the company to make the actual payments and to do the actual filing of the returns each month.

Full-Service Option

This option involves LBMC providing all the services listed above. Through the executed power of attorney, LBMC not only prepares your returns but will also make the tax payments and file the returns on your behalf. This option is the most popular option as it streamlines the process. LBMC does the detail work while the company simply provides a monthly data feed and funds LBMC for the total tax liability for the month.

Get a Quote for Sales and Use Tax Outsourcing

Outsourcing sales and use tax preparation is good business. Your returns will be filed on time, accurately, and with less burden on your accounting staff.

Please provide the information below and we will assess your needs and prepare a price quote. A representative will follow up to discuss your needs.

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