Running a business is difficult. Understanding the ever changing federal & state tax laws is more difficult.Consider the federal tax code is more than 10 times larger than the Bible at over 6 million words. CCH Standard Federal Tax Reporter says it now takes 73,954 regular 8-1/2” x 11” sheets of paper to explain the complexity of the US Federal tax code!
State tax laws are not too much better, with each state changing their laws yearly to attempt to raise revenues, often to pay for deficit budgets. Worse yet, if you sell to others outside your state, you may soon be responsible for collecting taxes from as many as 45 states.