What is Sales Tax Analytics?
It’s difficult to know how to deal with Nexus, especially if you don’t know how much it will impact your business. Sales Tax Analytics is a tool designed to give both Amazon sellers and their accountants a better understanding of a retailer’s overall Nexus exposure.
Sales Tax Analytics allows retailers to get up-to-date information about their exposure in four specific categories:
- Established Nexus date in various states: Gives retailers insight into when their physical presence was established in one or more states.
- Year-to-date sales within a state: Allows both retailers and their accountants to see what a business’ total sales were within a state and to identify current or future states where income filing requirements will be triggered.
- Current liability within a state: Allows retailers and their accountants to understand their total accumulated back-owed liability within a state, based on sales and current, state-specific rates.
- Accounts for refunds: Our system automatically accounts for refunds given by Amazon to retailers.
How does the process work?
We simply connect Sales Tax Analytics to an Amazon account through the QuickSKU API. Once connected, data is pulled from the account and fed into the Sales Tax Analytics software. A comprehensive report will be prepared and delivered within 24 hours for review by retailers and/or their accountants.
How accurate are the calculations?
Sales Tax Analytics calculates exposure down to the jurisdictional level (where rates frequently fluctuate). Despite this rate volatility, Sales Tax Analytics keeps within a 3% accuracy rate of total exposure.
Can I get a SALT expert’s assistance with my report?
Absolutely! For a $200 fee, we offer thirty-minute strategy and consulting session with one of Ampersand Accounting’s SALT experts. During these consultations, our experts will review a business’ exposure and discuss different courses of action to resolve liabilities. If you would like a consultation, please contact us at firstname.lastname@example.org.