Multi-State – New Sales Tax Report Shows a Decrease In Rate Changes In 2018

KING OF PRUSSIA, Pa.–(BUSINESS WIRE)–Feb 19, 2019–According to the annual End-of-Year Tax Rate Report issued by Vertex Inc., a leading provider of tax technology and services, there were 619 standard sales tax rate changes in 2018, a decrease from the same period in 2017. In addition, the report shows there have been 5,886 new and changed standard sales tax rates over the past 10 years.

“Despite a decrease from 2017, tax professionals still had to manage more than 600 standard sales tax rate changes, as well as new reporting requirements following the South Dakota v. Wayfair decision. The U.S. indirect tax landscape continues to become even more complex,” said Bernadette Pinamont, Vertex vice president of tax research. “The burden of compliance has intensified as states started establishing post- Wayfaireconomic nexus thresholds, as well as initiating separate returns for out-of-state retailers.”

For The Full Story: Business Wire

Business wire
February 19, 2019