The go-to source for sales tax, finance tips, and SaaS best practices.
If you’re a producer of software, it’s essential to know how tax authorities in states across the country will classify your products. Software is a particularly complex category in tax law, in part because it’s a relatively new type of product
If you’re selling software across state and country boundaries, you’ll need to stay on top of where you might have established sales tax nexus. This includes taking into account of both economic as well as physical nexus rules.
At Anrok, we have a lot of similar initial conversations with finance leaders at SaaS companies. Most of them are aware that sales tax is an important compliance matter for their company but are often confused on which products are subject to sales tax.
As many companies found at the start of the pandemic, transitioning to remote work is about more than just location. A lot more goes into making this shift successful than simply sending your employees home to work at their desks or dining room tables.
Most companies can expect to be audited at some point, so it’s important to have a plan for when this inevitably happens. You can get flagged for a sales tax audit for a variety of reasons. These include sales volume, high volume of exempt sales, and more.
For SaaS companies, managing tax exposure is vital but can be disconcertingly complicated. In the US, sales tax laws governing software, and particularly SaaS, differ from state to state, and even within a state thanks to home rule municipalities.
Going through a sales tax audit can be an intimidating process, in part because the auditors’ requests for documentation are specific, and the process can be demanding
There are many ways that The 7 Habits of Highly Effective People falls short in practice. While the book provides a thoughtful framework on how to improve our general work ethic, it does not offer tactical advice that you can use in your specific role.
You’ve gone through the hyper growth phase and are on the path to IPO. It’s often a time-consuming, labor-intensive, and expensive process that is watched like a hawk by regulators and the public alike.
We’re excited to announce our existing investors are doubling down. Anrok has raised a $20 million A round co-led by Index Ventures and Sequoia.
The question of whether SaaS is taxable in Colorado is a far more complicated one than it seems at first. You might expect a yes or no answer.
As Software as a Service (SaaS) becomes an increasingly common part of business-as-usual, legislatures and tax authorities are trying to figure out how to govern this unusual type of product.
Once you’ve registered to collect sales tax and filed returns with a state, it can be difficult to close that sales tax registration so you can stop filing returns. This lingering responsibility to a state regarding sales tax is called trailing nexus.
Managing finances for a startup is a demanding job — while there’s much to be done, it’s often only one or two people in the beginning who are responsible for it all.
Software-as-a-service (SaaS) is a relatively new addition to the world of commerce, and it’s quite a bit different than goods that have traditionally been bought and sold—and taxed—in the marketplace.
Should you tackle sales tax compliance right away? It can be hard to figure out when to prioritize it. So, we turned to one of the experts and asked him some hard questions about sales tax exposure and risk for software startups.
In 2018, the South Dakota v. Wayfair Supreme Court case altered the definition of nexus, which delineates when a company is required to collect and pay taxes for sales made to customers in a given state.
If you’re obligated to remit sales tax in Washington, you’ll also have to address Washington B&O tax. Washington does not levy a corporate income tax, so the B&O tax serves as an alternative way of taxing business activities in the state.
The main principle that defines whether a worker is an employee or a contractor is who has control over how the work gets done—the worker or the employer. Dive in to examine this in a little more detail.
The best kind of controller will be a self-directed professional with well-honed technical accounting skills, excellent command of communication, and the wherewithal to build and manage an accounting team as the company grows.
The difference between sales tax and income tax begins in their names: One is a tax on the sale of products or services while the other is a tax on income. Not every startup must pay both; which one applies in each case depends on a variety of factors.
In a previous post, we uncovered the truth about your tax engine and how it can fail to meet the needs of SaaS. This article examines the tail end of the process. We’ll look at what you need when it comes to reporting, filing, and remitting sales tax.
Companies often turn to a sales tax engine to manage the minutiae of tax codes. But chances are, your engine isn’t giving you the full picture. Many engines miss (or charge more for) components that can make or break your compliance.
Here are the six questions to ask when determining whether you should start collecting sales tax. Done at the right time, solving sales tax can save a business millions of dollars.
You’ve spent your career working with numbers, perhaps by specializing in FP&A or accounts receivable. If you’re like most finance leaders, you're increasingly asked to design financial systems and work with engineering. Here's how best to work with them.
Share your email so Anrok can send you occasional email updates about the latest in sales tax.