RETAIL TAX COMPLIANCE

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Sales & Use Tax Compliance Challenges

The complexity of the sales and use tax system, along with retailers’ responsibility for collection of sales tax, creates significant compliance requirements. Issues often include:

  • Sales and use tax returns must be filed in every state for all locations and outlets.
  • Tax liabilities must be reduced to help improve profitability.
  • POS systems may have different tax rates, which causes an over-under tax comparison analysis.
  • Access to IT resources is scarce or unavailable
  • It’s difficult to keep up with each jurisdiction’s notices and correspondence.
  • Doing use tax compliance is time-consuming and complex

Our Tax Compliance Service

ONESOURCE Sales & Use Tax managed services rely on our proprietary Tax Remittance and Compliance System (TRACS™). With its data and workflow management tools, it’s the cornerstone of our service. You benefit from all facets of the compliance process.

We take data feeds from all of your disparate systems, clean the data and translate it into TRACS™. From there, we calculate your tax liability and prepare funds requests to remit payments to the jurisdictions. During the process, you can access web-based management reports and an image library to help prepare you for any audits.

Benefits include:

  • A proven business model for complex sales and use tax with location reporting
  • Scalability and flexibility to evolve long term with retailers
  • Economies of scale and skill
  • High levels of production capability and process efficiency
  • Domain expertise (in both sales/use tax in general and high production sales/use tax compliance and reporting.)

Why ONESOURCE Sales & Use Tax Managed Services?

Companies across the globe have chosen our services. With integrated cash management and web access to sales tax and audit information, we give you the control you need.

We provide a way to shed risk, keep your staff focused on what's most important, and maintain high level of control over your tax and accounting processes.

Contact Us for More Information.