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follows deal for transaction tax resources inc.<\/strong><\/p>\n via avalara<\/em><\/p>\n avalara, a leading provider of tax compliance automation software for businesses of all sizes, is aquiring the operational assets of business licenses, llc, a company that provides software and services for the research, acquisition, and management of business licenses, registrations, and permits for businesses of all sizes. the transaction is valued at approximately $97 million in cash and stock.<\/p>\n last month, avalara acquired transaction tax resources, inc. to continue to build the industry\u2019s leading content database for tax. with the acquisition of assets from business licenses, avalara furthers its pioneering vision of being part of every transaction in the world by supporting the compliance life cycle through advanced technologies.<\/p>\n acquiring the assets of business licenses represents a milestone for avalara, as the company expands its platform to include a complementary compliance solution beyond tax. all of avalara\u2019s customers are required to obtain and maintain sales tax registrations in the jurisdictions where they have tax nexus, and building upon the existing partnership with business licenses, avalara will now be able to support additional licensing requirements. adding licensing allows avalara to better help businesses of every size manage and reduce regulatory complexity.<\/p>\n nearly every business must obtain some type of license, permit, or tax registration and keep it current. like tax compliance, licensing requirements can create meaningful complexity as the regulations for licensing and registrations vary by jurisdiction and industry. business activities such as opening or closing locations, moving locations, changing names, changing ownership, or launching products can all trigger the need for licensing or registration. the acquisition and ongoing maintenance of these licenses is daunting and can be a challenge for businesses of any size. business licenses has amassed an expansive database of licensing and registration content and deployed it through automated software and outsourcing services to help u.s. businesses start up and grow.<\/p>\n avalara will benefit from the acquisition of the business licenses products and team in three areas:<\/p>\n together, avalara and business licenses have enabled businesses to achieve compliance in the wake of considerable legislative change. avalara and business licenses together launched avalara licensing in 2018 when the supreme court, in south dakota v. wayfair, inc., ruled that states can require businesses without a physical presence to collect and remit sales tax on transactions in those states. many states took advantage of the ruling and introduced new legislation requiring many out-of-state online sellers to collect sales tax; the first step to collecting tax is registering in each state.<\/p>\n \u201cbusiness startup and growth begins with licensing and registration; it is the first step on a journey to achieve compliance,\u201d said scott mcfarlane, co-founder and ceo of avalara. \u201cdavid polatseck and abe brach architected some of the earliest compliance content aggregation and automation tools and deeply understand the needs of growing businesses. together, we work toward providing a comprehensive and seamless customer experience throughout the entire compliance journey \u2014 from registrations to returns to business insights.\u201d<\/p>\n \u201cavalara and business licenses have been partners in alleviating the burden of compliance for years,\u201d said david polatseck, president of business licenses. \u201cour team has focused on helping companies navigate the critical licensing and registration component of compliance for more than 15 years. we are proud to join forces with a pioneer in the global compliance space to advance our shared vision of reducing compliance complexity through automation.\u201d<\/p>\n aggregating and providing regularly updated comprehensive tax content and solutions has been core to avalara\u2019s mission and growth strategy since its founding.<\/p>\n","protected":false},"excerpt":{"rendered":" follows deal for transaction tax resources inc.<\/strong><\/p>\n","protected":false},"author":17,"featured_media":77528,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2780,3120],"tags":[84],"class_list":["post-80283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-pro-member-exclusive","tag-vendor"],"acf":[],"yoast_head":"\n\n