Exemption certificate compliance involves the processing of collecting, validating and renewing sales tax exemption certificates for your tax-exempt customers. Like most compliance fields, it’s a must have as failure to abide by state laws and regulations in this area can result in back taxes, as well as potential civil and criminal penalties. Ever since the Supreme Court decision in South Dakota v. Wayfair in 2018, businesses have been subjected to a dramatic increase in their obligation to manage tax exemption certificates. To meet this challenge, businesses of all sizes have embraced exemption certificate managers or ECMs to automate key portions of the exemption certificate management process and increase compliance.
Below is a comprehensive overview of exemption certificate managers, common use cases, various types of ECM solutions, and tips for getting started.
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EXEMPTAX’s Exemption Certificate Management platform offers quick-setup, is easy-to-use, and has industry-leading security- all at a price that is well below the rates of traditional exemption certificate management providers.
- Guided exemption certificate completion
- Advanced tax validation rules
- Easy to use interface
- Flexible plans
- 14-day free trial period