The Ultimate Solution for Ecommerce Sales Tax: Numeral
Are you an ecommerce seller struggling to keep up with the ever-changing sales tax landscape? Do you find yourself spending countless hours trying to navigate complex tax rules and regulations? If so, you're not alone. The ecommerce sales tax landscape is complex and confusing, with each state and local jurisdiction having its own set of rules and rates. But don't worry, Numeral is here to help. In this article, we'll take a closer look at Numeral, a startup that handles all aspects of sales tax from registration to remittance for ecommerce stores.
What is Numeral and What Problem Does it Solve?
Numeral is a startup founded in 2022 by Kevin Liu, Jake Moffatt, and Sam Ross, based in San Francisco. It handles all aspects of sales tax from registration to remittance for ecommerce stores. The idea for Numeral came about after the Supreme Court ruled in 2018 that states can require out-of-state merchants to charge sales tax. This ruling means that ecommerce stores are now required to register with up to 47 state agencies and potentially submit 47 monthly filings. Additionally, there are over 13,000 local jurisdictions, each with its own complex set of rules and rates. The current solutions are confusing, self-serve products that offer little to no service.
Numeral's solution is to automate the entire process for ecommerce sellers. Just connect your Shopify, Amazon, or other store and they handle the rest. Numeral can register companies in all 47 sales tax charging states, monitor for sales tax rate changes, and automatically adjust your tax settings. Lastly, they submit tax returns and payments on your behalf. This white-glove service allows ecommerce sellers to get back to working on growing their business.
Who are the Founders of Numeral?
Numeral was founded by Kevin Liu, Jake Moffatt, and Sam Ross. Kevin is a licensed CPA in the state of California who previously worked in big 4 accounting at KPMG. Since leaving KPMG, Kevin has built numerous ecommerce businesses, ranging from 7 figure dropship accounts to 8 figure Shopify brands. Sam founded an ecommerce studio that generated over $50M in revenue over the last 4 years. He previously worked in growth and product roles at Airbnb and Teespring. Jake is a self-taught software engineer who learned to code at 12 and spent the last 12 years at early stage startups in San Francisco. He is passionate about scaling software and teams in a healthy, sustainable way.
Why Choose Numeral?
Numeral stands out from the competition due to its founders' expertise and experience. Kevin Liu is a licensed CPA, giving him a deep understanding of the complexities of sales tax. Sam Ross has experience running a successful ecommerce studio and working in growth and product roles at Airbnb and Teespring. Jake Moffatt is a seasoned software engineer who is passionate about building software and teams in a healthy, sustainable way.
In addition to their expertise and experience, Numeral offers a white-glove service that takes care of all aspects of sales tax for ecommerce sellers. This service allows sellers to focus on growing their business instead of navigating complex tax rules and regulations. Numeral's automation and monitoring of sales tax rates ensures that sellers are always in compliance with the latest rules and regulations, which can save sellers time and money.
How Does Numeral Work?
Numeral simplifies the sales tax process for e-commerce sellers. Their three-step process is designed to take care of everything, from registration to filing.
The first step is to register with Numeral, which can register businesses in all 47 states that require sales tax registration. Once registered, they can manage the entire sales tax process for you.
Next, Numeral monitors for changes in sales tax rates and regulations. They automatically adjust your tax settings to ensure compliance with all state and local tax laws.
Finally, Numeral submits tax returns and payments on your behalf, streamlining the entire sales tax process.
Why Choose Numeral?
Numeral is the ideal solution for e-commerce sellers who want to simplify the sales tax process. They have a team of experts who are familiar with the latest sales tax laws, regulations, and compliance requirements. They use this expertise to provide a white-glove service that ensures sellers can focus on their core business while Numeral takes care of sales tax.
In addition, Numeral's founders have extensive experience in e-commerce and accounting, making them well-equipped to handle the complexities of sales tax. Kevin Liu is a licensed CPA with experience in Big 4 accounting, while Sam Ross founded an e-commerce studio that generated over $50M in revenue over the last 4 years.
Jake Moffatt, Numeral's third co-founder, brings his expertise in software engineering to the table. With his experience in early-stage startups and building teams, he ensures that Numeral's software is reliable, scalable, and built to last.
Overall, Numeral provides a comprehensive solution that automates the entire sales tax process, from registration to filing. They take care of all the complex and time-consuming tasks, so e-commerce sellers can focus on what they do best - growing their business.
Benefits of Using Numeral
There are several benefits to using Numeral for your e-commerce sales tax needs:
Saves time and effort:
Managing sales tax can be a tedious and time-consuming task, especially for e-commerce sellers who are already juggling multiple responsibilities. With Numeral, you can automate the entire sales tax process and save valuable time and effort.
Sales tax compliance is complex and failure to comply can result in hefty fines and penalties. Numeral's team of experts ensures that you stay compliant with all sales tax laws, regulations, and requirements, reducing your risk of non-compliance.
Provides peace of mind:
Numeral's white-glove service provides peace of mind, knowing that your sales tax is being handled by a team of experts. You can rest assured that all your sales tax needs are being taken care of, allowing you to focus on growing your business.
By automating the sales tax process, Numeral can help you increase your profitability by reducing the time and resources you spend on sales tax management. This can lead to increased efficiency, reduced costs, and higher revenue.
In conclusion, Numeral is a startup that offers a comprehensive solution for e-commerce sellers who want to simplify the sales tax process. With their white-glove service and team of experts, Numeral automates the entire sales tax process, from registration to filing.
Their founders have extensive experience in e-commerce, accounting, and software engineering, making them well-equipped to handle the complexities of sales tax. By using Numeral, e-commerce sellers can save valuable time and effort, reduce their risk of non-compliance, and increase their profitability.
Overall, Numeral is a game-changer for e-commerce sellers who want to focus on growing their business, while leaving the sales tax management to the experts.