{"id":430610,"date":"2021-02-08T08:50:27","date_gmt":"2021-02-08T13:50:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=430610"},"modified":"2021-02-08T08:50:27","modified_gmt":"2021-02-08T13:50:27","slug":"vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/","title":{"rendered":"Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules"},"content":{"rendered":"<div class=\"mw_release\">\n<p>KING OF PRUSSIA, Pa., Feb.  08, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0rw8EiBz_5aeyIbBPFGcuUkC7IL8SXgqA8jpgdgdJ4V6uLAr4RB4tOUCxFPA4-qLzwx5cIDfRrlbGV9W8wGK8kiH-z1dyspk8bAIsLysZ2bPnMulTjTiozfReD-yDhfLd_YTRdbTn5Ae1AVdTsRjlG4Q49CSCp1TPb9frOO0EE-a4c_1qikV8n0G0u0y9QwzBLhsbOiksDfDEEUXworPuA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Vertex, Inc.<\/a> (NASDAQ:VERX) (\u201cVertex\u201d or the \u201cCompany\u201d), a leading provider of tax technology and services, has released its annual report detailing sales tax rates and rules changes. The report uncovers emerging trends that may create unique challenges for businesses, specifically as jurisdictions look to make up for lost revenue caused by the ongoing COVID-19 pandemic.<\/p>\n<p>Vertex consistently tracks sales tax rates and rules and produces detailed mid-year and end-of-year reports featuring tax data over a 10-year period. These reports are widely referenced by industry groups and indirect tax thinktanks.<\/p>\n<p>The 2020 end-of-year report includes the following jurisdictional highlights:<\/p>\n<ul type=\"disc\">\n<li>70% of new rates occurred at the district level;<\/li>\n<li>Although city rate changes returned to their normal pace of change after a spike in the second quarter, 65% of all rate changes were enacted at this level;<\/li>\n<li>The number of new taxing cities (69) and new district taxes (177) that materialized in 2020 mark one of the highest in each category during the past 10 years;<\/li>\n<li>Sterlington with the Sterlington Economic Development District No. 1, Ouachita Parish, LA now has the highest combined sales tax rate of 12.950; and<\/li>\n<li>The combined average U.S. sales tax rate (10.12%) across all jurisdictions also reached a 10-year high.<\/li>\n<\/ul>\n<p>\u201cAlthough the frenetic pace of rate-change activity we saw in early 2020, in particular with cities, slowed in the second half of the year, indirect tax teams still need to keep their eyes on several possible tax trends this year as all jurisdictions look to recover lost revenue and close COVID-related budget deficits,\u201d said Vertex Vice President of Tax Research Bernadette Pinamont. \u201cGiven the number and size of state and local budget deficits, a \u2018new normal\u2019 for indirect tax policy and activity is almost certain to emerge.\u201d<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jkI4Pjr5AZvQIZCaJBOmPjGhjeXcpF-XZ-FMgYY-nOv9wD0VMxiEokWqAedutXMXS-L-VK5kVZ1uNDQReBiOmtDpzJ6wzYrbUUIKH1TvxXkBlHpihnyo3-TDi70EzkUqMKfmaU7IX9I7StdWN2hsmdp_2S8VGtXc6X_gPThwybPVi1cQrZsfsqpZh2rEj-ecWICZRFgM8NCM7eMJtDBHkwYbM2UE1ZAd_zarXjN04lS_1HKpHdZ2l-M5-mj3lcOZdLKhAJ8iJqC4w_0ZcbEdQrQb4gpBprqqe5QylM75QlVAc9MhKuP4MXVsLoyvvOoA\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Click here<\/a> to read more detailed trends and analysis from Pinamont. Download the full 2020 report <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aChyN1dZ-wvCFeq3CzTuLNSidWj4DpGrKvgZkoCy4R8r5xlfpNTWRy0w1qQhh1gbhljvzYBJugb6aFGSIpiH2_oSU9Sk-IpXsj3PMDuwXaGo1oVgrzxTFzw6PAk4QVNdCkXOm-AU5e69kHJOt3l-cYo-knywMevJY1P-jAV5rOeV-IrbYB5hysQpSijeOlMEPFlfTMrJaZpZ3wZ_rQRMPXAm2B5gORCCWZ9qiHcz5BtZ-3Ar084pEN6FEV_ZGu4ECn8Y00n1iGjnyV0aExNmPu2mh8lGuCN_mVyaThdLmsM=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">here<\/a>.<\/p>\n<p>\n        <strong>About Vertex<\/strong>\n      <\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=0rw8EiBz_5aeyIbBPFGcuSDIPdXLxWLjloUDLqBDjN8iOCqZYs2raQ_nfwzhNQPCfVFHZ5aHAmZbm5CR_DOXyLgj7LRDq8hI23TWYo8CLyD3yQBcSKMDSlBya5Dj9H1tjTM9L8WSfLIPbpxu49_1N_vgd61aJ3trtMFuJBSvE56FXVvS0lGX_0I150kY8hrK\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Vertex, Inc.<\/a> is a leading global provider of indirect tax software and solutions. The company\u2019s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,200 professionals and serves companies across the globe.<\/p>\n<p>For more information, visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_HhWL4pTWbInnTSpoLdGVJnrd5Ubr_zgmL-re2yuez8FMW57P9XU3jFhPDagWbRLzTD2tbSYmr9vTxtD8PZsGQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.vertexinc.com<\/a> or follow on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1zwbfptMVEqU-iUWzmqtqInmhjvQB9SjwHwjEC-oIlVDOXjaoRbB2QpGsiRj7cd_EsBGPed6h5Gjz_BD-ApP_Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a> and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_3a4TtbyicExWSaD9CSSfbliOJjipg_Ql49NY6q74HMylk5e6d_aLUjxBg72SBMrlupt2AFFQMqn3hOCb7vAJ77-HhRR_Ctqtw0m2QBh0lo=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>.<\/p>\n<p>Copyright \u00a9 2021 Vertex, Inc. All rights reserved. The information contained in this press release is intended for information purposes only, may change at any time in the future, and is not legal or tax advice.\u00a0<\/p>\n<p align=\"left\">\n        <strong><br \/>\n          <em>Company contact:<\/em><br \/>\n        <\/strong><br \/>\n        <br \/>Tricia Schafer-Petrecz<br \/>Vertex, Inc.<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=IGQtD8Yn-1G9-SQuyVvl-0K1f6mqc9QNfvzRkDVPrzwuMXnHa6sVpSizxH0dCJRObNw_mVertU1AqO9wdBF8yqa9EieDFaGxYbG4pCAdi6frje0iKhclRQJZRUy6oLE2dwU1-W0DbrquwXU2xM1-Ew==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">tricia.schafer-petrecz@vertexinc.com<\/a><br \/>484.595.6142<\/p>\n<p>\n        <strong><br \/>\n          <em>Investor Relations contact: <\/em><br \/>\n        <\/strong><br \/>\n        <br \/>Ankit Hira or Ed Yuen<br \/>Solebury Trout for Vertex, Inc.<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=KsGJBNeBArFMfrYypTytvokn2XLNanRJ3b1xRrx9WG4ttlxAeJk6xz87BWKR2V6ekYdwuvFIaYtk6_DHmZv-ig==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">ir@vertexinc.com<\/a><br \/>610.312.2890<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE0ODI5MiMzOTYzNDc3IzIxNzkzMzk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/dbb84585-9e56-4294-83d7-9fdb6d2751b6\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>KING OF PRUSSIA, Pa., Feb. 08, 2021 (GLOBE NEWSWIRE) &#8212; Vertex, Inc. (NASDAQ:VERX) (\u201cVertex\u201d or the \u201cCompany\u201d), a leading provider of tax technology and services, has released its annual report detailing sales tax rates and rules changes. The report uncovers emerging trends that may create unique challenges for businesses, specifically as jurisdictions look to make up for lost revenue caused by the ongoing COVID-19 pandemic. Vertex consistently tracks sales tax rates and rules and produces detailed mid-year and end-of-year reports featuring tax data over a 10-year period. These reports are widely referenced by industry groups and indirect tax thinktanks. The 2020 end-of-year report includes the following jurisdictional highlights: 70% of new rates occurred at the district level; Although city rate &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-430610","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KING OF PRUSSIA, Pa., Feb. 08, 2021 (GLOBE NEWSWIRE) &#8212; Vertex, Inc. (NASDAQ:VERX) (\u201cVertex\u201d or the \u201cCompany\u201d), a leading provider of tax technology and services, has released its annual report detailing sales tax rates and rules changes. The report uncovers emerging trends that may create unique challenges for businesses, specifically as jurisdictions look to make up for lost revenue caused by the ongoing COVID-19 pandemic. Vertex consistently tracks sales tax rates and rules and produces detailed mid-year and end-of-year reports featuring tax data over a 10-year period. These reports are widely referenced by industry groups and indirect tax thinktanks. 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(NASDAQ:VERX) (\u201cVertex\u201d or the \u201cCompany\u201d), a leading provider of tax technology and services, has released its annual report detailing sales tax rates and rules changes. The report uncovers emerging trends that may create unique challenges for businesses, specifically as jurisdictions look to make up for lost revenue caused by the ongoing COVID-19 pandemic. Vertex consistently tracks sales tax rates and rules and produces detailed mid-year and end-of-year reports featuring tax data over a 10-year period. These reports are widely referenced by industry groups and indirect tax thinktanks. The 2020 end-of-year report includes the following jurisdictional highlights: 70% of new rates occurred at the district level; Although city rate &hellip; Continue reading \"Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-08T13:50:27+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE0ODI5MiMzOTYzNDc3IzIxNzkzMzk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules","datePublished":"2021-02-08T13:50:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/"},"wordCount":475,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE0ODI5MiMzOTYzNDc3IzIxNzkzMzk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-releases-annual-report-detailing-trends-around-sales-tax-rates-and-rules\/","name":"Vertex Releases Annual Report Detailing Trends Around Sales Tax Rates and Rules - 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