Dealing With Taxes For SaaS Startups
I am hearing about states/countries enforcing collecting taxes from users depending on their countries/states and am wondering how others are dealing with this. It is complex enough to do payment integration to apps and now we have to add tax logic and with variables of countries/states globally? What if i decide not to collect location data of my users? and i just have them pay and not store any location data meaning i do not know where my users are, what happens here?
Anyone willing to share their experience regarding this?
I’m pretty sure stripe and any other payment processor worth their fees handles all of this for you.
You need at least an location where the legal entity is in. That and the name are needed in case the IRS decided to check if you for example violated money laundering laws.