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Color Code: Yellow
Assigned To: Brandon Moore
Created By: Brandon Moore
Created Date/Time: 10/14/2021 3:43 pm
 
Action Status: Blank (new)
Show On The Web: Yes - (public)
Priority: 0
 
Time Id: 8351
Template/Type: Brandon Time
Title/Caption: Phone call with Steve
Start Date/Time: 10/4/2021 5:30 pm
End Date/Time: 10/4/2021 6:15 pm
Main Status: Active

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Notes:

On the phone with Steve talking about options and loading the wagon (paying projects and funded development). He is going to load the wagon and I'm going to try to unload the wagon (either doing projects myself or coordinating them out to our guys with Cory's help). Steve is so good at sales, pitching the vision, and helping clients see the need for what we are doing. Basically, he will talk to the clients, line up the projects (fill the wagon), and then we will build it out and virtually clear the wagon. Good phone call.

One of the topics of the phone call was dealing with JIT (just in time) sales tax collection and allocation. There is a growing need to collect, report, and even pay/fund the sales tax as it happens. Some of the states are wanting to get more real-time on some of the payments out to them and the virtual float (time in between collecting and paying) that exists. Many states allow the clients to collect sales tax for a month (all the money is in the client's hands or client's bank accounts), and then at the end of the month they pay it back to the states (if they still have it). There is a known gap, a delay on the repayment, as well as some trust issues. The states are feeling like they are getting misinformation, not getting all of the taxes, and are very limited in what sort of audit reports they have access to. You are talking big money and who gets to claim what. Steve was talking about some ways of automating some of those pieces, as needed. Not everybody likes these ideas or concepts, we were just talking about possible options.