Ebook

U.S. SALES TAX COMPLIANCE EXPLAINED WITH SOCKS

U.S. SALES TAX COMPLIANCE EXPLAINED WITH SOCKS

Pages 4 Pages

U.S. SALES TAX COMPLIANCE EXPLAINED WITH SOCKS When expanding into the U.S. market, complying with U.S. sales tax at every step of your supply chain can be a huge challenge. There’s complexity to unravel at every stage. Even a basic staple like socks can complicate tax compliance if you’re not aware of your obligations and what’s required to get them right. This is true whether you’re selling socks, software, or something else entirely. MAKING SOCKS Cave dwellers used animal skins. The Ancient Greeks used matted animal hair. Today’s socks are made from more sensible materials like cotton, wool, and nylon. Most U.S. states exempt manufacturers from paying U.S. sales tax on raw materials and packaging materials. Taxed in three states and the District of Columbia Partially tax

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