Remove Compliance Remove Retail Remove South Dakota Remove Technology
article thumbnail

How Merchants Navigate Tax Collection Complexity With Technology  

PYMNTS

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. And, in retail, The North Face is offering outdoorsy experiential retail in the city, while PUMA brought its first-ever North American flagship store to New York.

Taxes 122
article thumbnail

As The Online Tax Man Cometh, Will Smaller Retailers Embrace Marketplaces?

PYMNTS

Seismic change in tax policy came last year in the form of a ruling from the Supreme Court, through the case captioned South Dakota v. The ruling meant that online retailers could be mandated to collect sales tax — and taxes can be levied by states on firms that do not have physical presence in those states.

Taxes 116
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Deep Dive: The Unfolding Legacy Of South Dakota v. Wayfair

PYMNTS

Retail sales taxes have long been key sources of state governments’ budgets and have been their greatest single stream of revenue since the mid-1900s. . Such a levy was not legal until last year’s South Dakota v. Inside South Dakota v. ruling and returned the Wayfair decision to the South Dakota Supreme Court.

article thumbnail

SMB Tax Complexity Preserves Role For The Human Accountant

PYMNTS

Anxieties that automation will replace humans have waned in the accounting sector, as industry players begin to realize that technology can actually help accountants play a more important role for their small business (SMB) customers as advisors and guides, rather than replacing their roles outright.

Taxes 193
article thumbnail

Wells Fargo’s Q2 Disappoints After Scandals

PYMNTS

Second-quarter net income was impacted by a $481 million one-time expense resulting from a key Supreme Court decision related to online sales, South Dakota v. The San Francisco-based bank had a total of 5,751 retail branches by the end of the second quarter, citing 114 branch consolidations during the first half.

article thumbnail

Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

And, Congress has charged the OCC “with assuring the safety and soundness of, and compliance with laws and regulations, fair access to financial services , and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.” Citibank (South Dakota), N.A., 12 U.S.C. § 1 (emphasis added).

FDIC 78