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How Merchants Navigate Tax Collection Complexity With Technology  

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eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. 2018: The year of the Supreme Court decision in the South Dakota vs. Wayfair case. All this, Today in Data. Data: 8,000: Square footage of The North Face’s recently opened store in Soho.

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Top News In Payments: The Fed Takes A Closer Look At Big Tech; Goldman CEO Denies Apple Card Credit Bias Claims

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President Barack Obama is warning about the potential negative impact that technology can have on society. President Barack Obama is warning about the potential negative impact technology can have on society. Politicians, as well as privacy advocates, have asked regulators to block the deal. South Dakota Decision.

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

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Governments rely on tax revenues to fuel the vital services they provide to residents and businesses – from firefighting and public education to water system repair and road maintenance. 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. .

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Wells Fargo’s Q2 Disappoints After Scandals

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The current quarter included a 10-cent per share income tax expense. . 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. Wayfair, which impacted how states may collect taxes on sales made by out-of-state sellers. .

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Deep Dive: Wayfair’s Complex, Ongoing And Unexpected Effects On Retailers

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The 2018 South Dakota v. An additional 12 states have added or amended marketplace facilitator laws, and even more states are slated to implement remote seller tax laws in the next few years. . Businesses must therefore re-adjust to comply and avoid penalties in this new world of ongoing tax policy changes. .