After the Supreme Court’s Quill decision in 1992, e-commerce companies were not required to charge sales tax in states where they did not have a physical nexus. This resulted in two major issues with the explosion of e-commerce over the last decade: 1) Brick-and-mortar stores had a major disadvantage because they had to charge sales tax, while online retailers could sell the same goods tax-free, and 2) States were losing out on billions of dollars in tax money—at least $13 billion, to be exact.
Recently, 35 NetSuite customers took time out of their morning to convene over coffee and breakfast in San Francisco for the NetSuite Customer Meetup. The feedback was extremely positive and 100% said they would come to a Meetup again! Here are the 5 reasons why:
With all the discussion and preparation of the new lease accounting standards, ASC 842/IFRS 16, the time has arrived for public companies to begin reporting their results. However, as we saw with ASC 606 last year, many companies have underestimated the effort and time required to comply with the new standards. KPMG has recently completed a study that found most companies are way behind in their lease accounting projects, but there is still time to get on track.
Ready or not, the new lease accounting standard, issued by FASB (Financial Accounting standard Board) as ASC 842 is here.
According to the EY Growth Barometer, 29% of family business executives are employing technology to improve productivity. How exactly are these leaders harnessing the power of technology?