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Selling products and services online seems simple. However, current tax reforms and legal compliance demand a smart accounting service for businesses.
And we’re here to fill that gap for your business.
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Kansas is an ideal location for anyone wanting to start a small e-commerce business as you get to benefit from its State Small Business Credit Initiative (SSBCI) which offers $25,000 to $50,000 funding. With over 256,950 SMBs, Kansas is one of the best states to run an online business.
But not everything is as rosy as it seems. The state sales tax rate in Kansas is 6.5% which is higher than a few other states.
Also, you must factor in the local sales taxes that vary by jurisdiction. In some areas, like Kansas City and Wichita, it goes as high as 9.15%.
Young businesses should understand sales tax compliance inside out otherwise penalties and interests can eat up the majority of their profits.
Another important consideration is that of the corporate and individual income tax rates. Whether you have a sole proprietorship or you run an LLC, you are eligible for income tax, varying from 3.1% to 5.7%.
Since the tax situation in Kansas is slightly more complex, you need a more nuanced approach to handle small e-commerce business finances. This is where Ledger Labs steps up, giving you support and financial autonomy.
Whether it is maintaining financial accuracy or staying compliant with the latest tax regulations, we have all the expertise and resources to keep your focus only on growth.
Seek qualified accountants and CPAs with 12+ years of experience serving clients in various industries like Retail, Ecommerce, Startups, Saas, Real estate, Manufacturing, Education, Professional services and more.
Just answer three questions to get started.
Navigating the complex tax regulations is a prerequisite for e-commerce businesses in Kansas. It is unavoidable when you’re managing multiple sales channels, payment gateways, and online transactions.
Join hands with Ledger Labs to handle this successfully, avoiding any legal action.
Partnering with Ledger Labs can take your business forward as we simplify finance management for you. We can optimize your cash flow, improve inventory management, and establish tax compliance.
Helping busy founders and busy owners streamline their accounting & bookkeeping with services designed from and for the perspective of business owners.
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