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KPMG Bets on State and Local Sales Tax Startup LumaTax

Feb. 5, 2020, 8:51 PM

KPMG LLP, the smallest of the Big Four accounting giants, said Wednesday that it had acquired a minority stake in LumaTax, a startup tax advisory company, as it competes in the market to help businesses comply with state and local tax rules.

LumaTax provides accounting firms with software for tax advisory services, compliance and audit. Those tax obligations have become more complicated since the Supreme Court’s South Dakota v. Wayfair ruling, which opened the way for states to tax sales by remote online vendors.