Our partners at TaxJar have created a very cool new service to show you where you exceed state-specific economic thresholds (which means you have to collect sales tax) in just a few minutes. This is the ONLY automated tool of it’s kind that shows you where your business is required to collect sales tax.
Knowing where you’re required to collect sales tax, and doing it, is critical in light of the Supreme Court’s June 21st decision in South Dakota v. Wayfair, which says that a “physical presence is not required in order for a seller to be obligated to collect sales tax from buyers in a state”.
While this decision doesn’t mean immediate changes overnight, many states are expected to move quickly to pass legislation requiring the collection of sales taxes for all transactions even if the seller does not have a physical presence in the state. To complicate things, each state is likely (guaranteed) to have different rules specifying who has to collect and who doesn’t.
By default, AmmoReady uses TaxJar to calculate the sales taxes you are required to collect based on the address associated with your AmmoReady account. If you install our free TaxJar add-on, we’ll also report all sales data back to TaxJar so you can then take advantage of all of their services like AutoFile and their new Sales and Transaction Checker. We’re also planning to enhance the add-on to support TaxJar features related to changes in economic nexus laws or and for those dealers that already have a nexus in more than one state.