E15: Building Tax Compliance for Tech Companies with Michelle Valentine, Cofounder and CEO of Anrok
"Turpentine Finance" with Sasha Orloff | Startup Finance, Leadership, CFO Strategy
Shownotes Transcript
In this episode, Sasha sits down with Michelle Valentine, Co-founder and CEO of Anrok, the tax compliance infrastructure for the internet economy. They discuss the complexities of sales tax in the digital age, the historical context, regulatory changes, and challenges faced by startups operating online. Michelle shares her journey from VC at Index Ventures to founding Anorak and provides valuable advice for finance leaders and founders on navigating sales tax issues effectively.
--
**🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: **https://hmplogxqz0y.typeform.com/to/JCkphVqj)
This show is a part of the Turpentine podcast network. Learn more: https://www.turpentine.co)
Get Turpentine Finance directly in your inbox. Subscribe to our newsletter at https://turpentine-finance.beehiiv.com/) and receive key takeaways from each episode
RECOMMENDED PODCASTS:
🎙️1 to 100 | Hypergrowth Companies Worth Joining
Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies.
Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw)
Apple: https://podcasts.apple.com/podcast/id1762756034)
--
SPONSORS:
NETSUITE
📈 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite: http://netsuite.com/zen )- NetSuite has extended a one-of-a-kind flexible financing program for a few more weeks.
COMMANDBAR
🦾 Level up your ineffective website chatbot with CommandBar. CommandBar builds a new type of web assistant which delivers highly personalized responses, real time co-browsing, and can perform actions on behalf of the users. Learn how Hashicorp, Gusto, Freshworks and more use CommandBar at https://commandbar.com/moz)
BABBEL
🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg)
--
LINKS:
X/SOCIAL:
@sashaorloff (Sasha)
@_vltn (Michelle)
TIMESTAMPS:
(00:00) Episode preview
(01:12) The complexity of sales tax in the digital age
(03:40) The evolution of sales tax laws
(05:41) The impact of remote work and Supreme Court rulings
(07:20) Local vs. state tax compliance
(10:47) How Anrok solves sales tax issues
(12:25) The importance of early sales tax compliance
(15:13) Anrok's approach to sales tax management
(18:30) Address data quality and sales tax
(24:06) Common misconceptions about tax responsibility
(26:45) From venture capitalist to founder
(28:01) Building a strong founding team
(32:57) The why now for Anrok
(35:41) Advice for founders and finance teams
(39:49) The role of accounting firms and fractional CFOs
(42:47) Anrok's vision and future