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If you are an FBA (Fulfilment By Amazon) trader with Amazon, they will store your inventory in 26 states and automatically trigger a nexus in those states. This is where it starts to get a bit scary as you would then have to register for sales tax in 26 states (at least). Amazon provide a calculator to help with your tax calculations as it realises that it is triggering registration.
Let’s say a nexus is established and you need to register for sales tax. You need to register in each state and the cost is approximately $200 per registration. Then each return costs approximately $50 per return per month.
If you are an FBA, then this means a compliance cost of $5,200 USD to register and then an ongoing $15,600 USD per year.
Gulp.
We’re an online accounting firm that is always right here for you, your accounting pain relief. The most advanced technology lets us work way more closely with you than a normal accountant would.
We have a dedicated team of remote accountants to take care of your business no matter where you are, so you can focus on growing your business. We take out the ‘fluff’, break down the barriers and get things done. Looking out for you is what we are all about. Get started for free today.
Sue de Bièvre
Beany Co-Founder
An intrepid entrepreneur and feminist with a penchant for disruption; spotting problems and rolling her sleeves up to fix them makes Sue tick.
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