”We have seen a significant increase in new customer’s registering, McFarlane said. As major states have enacted or detailed plans for adopting economic nexus for taxing Internet-based sales, interest has risen and made the Streamline Sales Tax program more attractive, he continued. Thirty-eight states have adopted economic Nexus. The big states such as California, Pennsylvania, Illinois, New York and Texas are “where most of the economy is spending its money,” McFarlane said. “It will drive businesses to look at their sales-tax decisions.” New business helped Avalara trim its loss sharply while revenue rose by double digits. The company lost $9.2 million for the most recently ended quarter, 39.4 percent lower than the loss of $15.2 million a year ago. Revenue for period was slightly less than $85 million, up 38.4 percent from $61.3 million in last year’s corresponding period. With Avalara having named three new executives, including a president, McFarlane said he will be able to spend more time on areas such as international expansion and expanding content. The company operates in 210 countries at the federal level, but expects to go deeper in providing tax services for lower levels of government. McFarlane cited Brazil as a place in which that effort has already begun.Last modified on Tuesday, 14 May 2019
WAYFAIR DRIVES NEW AVALARA BIZ Featured
The Supreme Court’s Wayfair decision, which allows states to collect tax on out-of-state sales, has been good for Avalara, CEO Scott McFarlane said this week. He made his comment’s during this week’s webcast for earnings for the first quarter ended March 31.