You’ve Cashed In On
Black Friday & Cyber Monday
Have you thought about sales tax?
Most states have a 200-transaction or $100,000 sales threshold for triggering nexus. Tracking these thresholds and knowing when to start collecting sales tax in a new state is crucial for staying compliant and avoiding penalties.
Why you need to know your thresholds
Hitting Nexus for the first time after a successful BFCM
A strong Black Friday/Cyber Monday (BFCM) performance can push you over the sales tax nexus threshold for the first time. Now is the time to set up your tax compliance systems for 2025 to avoid any penalties and stay ahead of your obligations.
Ongoing sales without sales tax compliance
If you’ve already crossed the sales threshold in various states, continuing to sell without proper tax compliance can lead to significant tax exposure. All sales made since reaching nexus are subject to state sales tax. It’s essential to act now and get your tax systems in place to avoid costly penalties down the line.
Find Out Where you Should be
Collecting Sales Tax
How to Prepare for Black Friday
Review your nexus obligations
Check economic nexus thresholds and monitor new states where Black Friday sales may qualify. Nexus monitoring software tracks sales and alerts you to nearing or exceeding thresholds. Black Friday sales could push you over the line.
Prepare for new registrations
Be ready to register for a sales tax permit in states where you reach nexus.
Update your sales tax rates
Ensure your tax rates are accurate and up-to-date for all the states and localities where your products are available. Double-check for any recent rate changes.
Automate your sales tax calculations
If you don’t already use one, implement a sales tax automation solution to streamline tax calculations and ensure accuracy.
Check your filing frequency
Review the sales tax filing deadlines for each state where you have nexus, especially if increased Black Friday sales could change your filing frequency.
Consider hiring professional help
If your business is growing, or you’re not clear on your obligations, consider hiring a tax professional to help manage compliance during the busy season.
Speak to a US sales tax expert today
Schedule a call today
