This week on the SALTovation podcast we speak with Brad Scott, Director of Finance at Halstead Bead, Inc., an eCommerce wholesaler supplying jewelry businesses worldwide. Brad discusses the challenges and costs of sales tax compliance for small businesses. He shares his personal experience with the Wayfair decision and the impact it had on his company. He talks about the need for greater simplicity in tax policy to drive compliance and reduce the burden on small businesses. He proposes solutions such as a single audit per year from a designated taxing authority and a single rate model for states. Listen this week as we discuss the need for collaboration between business leaders and policy leaders to find effective solutions.
Talking Tax Reform: https://taxfoundation.org/event/post-wayfair-remote-sales-tax-reforms/
Guest Bio:
Brad Scott is the Director of Finance at Halstead Bead, Inc., an eCommerce wholesaler supplying jewelry businesses worldwide. Halstead is a second-generation, family-owned, small business. Scott has been with Halstead for 21 years. He handles multi-state sales and income tax registrations, filings, reconciliations, and all other accounting for the business. Scott also leads Halstead’s legislative advocacy efforts to achieve multi-state sales tax policy uniformity & simplification and is the Chairman of the Committee on Tax Policy at the American Catalog Mailers Association (ACMA). Halstead Bead, Inc. was the plaintiff in a lawsuit against the State of Louisiana, represented by Joe Bishop-Henchman and Tyler Martinez of the National Taxpayers Union (NTUF). Scott graduated from Michigan State University with a BA in Finance.
Topics discussed in this episode:
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