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Sell Anywhere Without Becoming A Global Tax Expert
Many businesses lack the ability to accurate calculate the sales/use tax for a business transaction. While some ERPs can compute the sales tax, they require you to manually define the jurisdiction for every region in which you do business, and program the tax rate associated with each.
When Supreme Court struck down a company’s physical presence as a legal ground for requiring sales tax collection in South Dakota v. Wayfair, it introduced the concept of “significant economic nexus”. Since its definition varies from state-to-state, it further complicates the matter of whether tax should be collected, and how much to collect.
Given the complexity in maintaining this data, many businesses forgo the ability to sell direct and leverage distributors and retailers to handle product sale.
Done properly, selling direct can improve your margin, capture otherwise lost sales, and provide complete control over your customer experience. For high price, complex, custom-made products, they may require your specialists to install and configure the products to ensure proper operations, which further necessitates the ability to sell direct to your customers.
Our goal in Juno Payments is to deliver cohesive business solutions to remove barriers and increase your flexibility. We can remove your tax calculation barrier so you can sell direct to B2B or B2C if you so choose, our platform capabilities include:
- An external tax calculation engine which integrates seamlessly with leading ERPs – you no longer have to define and maintain the latest tax lookup information within your enterprise. Tax is calculated accurately, even for international sale.
- Stores and manages your client tax exemption certificates – if tax is required, we determine the proper tax jurisdiction based on client information and apply the correct tax rate to the invoices within your ERP.
- Periodically we would submit all relevant tax documents for each jurisdiction to ensure tax compliance.
- Remit the sales tax collected to each jurisdiction on your behalf.
- Since all tax calculations are tightly integrated with your ERP, your ERP remains the single source of truth. There is no external system to sync or cross-reference, it preserves your current workflow.
By offloading the sales tax calculation, filing, and tax remittance to us, you can focus on growing your business and your core competence. By extending the flexibility of your sales model to include direct sale, you can achieve more direct interactions with your clients, maintain tighter control of your end-to-end customer experience, and easily incorporate crucial services as part of your sale to ensure successful deployment.
We understand each company’s needs is unique, we offer free consulting to help you chart the optimal adoption strategy and select the right solution. We look forward to an opportunity to work with you to determine what’s best for your company.