With all the moving parts of mergers and acquisitions, governmental licenses often get lost in the shuffle. But part of an M&A subject to the whims of thousands of licensing jurisdictions should not go ignored.
If you are counting on operating your acquired locations on Day 1, selling new products on Day 2, and keeping your distribution and supply chain functional on Day 3 and beyond, you better be confident the business licenses owned and maintained by your acquired entity are up to date.
Compliance is a necessity for every business, but the best long-term strategies for any company depend on factors like portfolio size, internal expertise, available budget, and risk tolerance.
The Costs of Compliance: Strategies for Automating Tax Management in the Cloud and Avoiding Hidden Costs
The average annualized cost to manage sales and use tax is more than $63,000 for small companies and more than $393,000 for large organizations.
Debates over online sales tax and related statutory rules and rate changes have vaulted sales and use tax compliance to the top of every finance organization’s 2015 action list.