Sales & Use Tax Workshop

• Receive tips and techniques that may save your organization thousands in penalties
• Gain new insights into the most commonly misunderstood aspects of sales and use taxes
• Learn the sales and use tax requirements in your state and all other jurisdictions where you have tax liability
• Discover where to find the latest changes in sales and use tax laws that govern your industry
• Be able to protect your company against audit surprises
• Explore tax savings opportunities and exemptions you may not be aware of
• Understand how e-trade is affected by sales and use tax
• Find out how to streamline your recordkeeping without putting your company at risk
• And even more you'll put to use immediately on the job!

If you have questions about sales and use tax laws, you're not alone. There are 7,500 different taxing jurisdictions in the United States alone, and they routinely tax the same products differently. It's easy to understand why our sales and use tax laws are considered among the most complicated in the world.

To add to your challenge, state governments are aggressively pursuing new avenues of taxation. Faced with a slumping economy, they want a bigger piece of the revenue pie. Clearly, your job has never been more difficult — or important — to your organization.

Get The Information You Need — Not Generalities!

Some sales and use tax seminars offered by other companies give you a cursory overview of sales and use tax with little of the practical, real-world information you need to correctly handle day-to-day tax questions.

This seminar is different. At the end of the day, you'll leave with essential information you can put to use right away. You'll understand sales and use tax and be able to apply it correctly for your organization. That's a lot of value for the investment of only one day.

AGENDA

Understand The Law And What It Means For Your Company

• The difference between a sales tax and a use tax
• The key factors that determine which tax applies in each situation
• 4 types of tax states and how each affects your legal obligations
• Ways to steer clear of the most common — and costly — use tax pitfall
• How to identify where your company has nexus for sales and use tax purposes
• What constitutes an out-of-state connection strong enough to incur tax collection responsibilities there

Master The Mysteries Of Multi-State Transactions

• How to know which tax rate applies when multiple jurisdictions have competing claims
• Internet sales — what the Internet Tax Freedom Act is and how it affects your company
• The possible use of the mail-order use tax on your customers
• How to avoid triggering tax liabilities in other states
• How to know if a vendor is illegally charging you tax

Understand Taxation For The Most Common Transactions In Your Industry

• The correct way to value self-constructed assets for use tax purposes
• Common inventory withdrawals that are subject to use taxes
• The most prevalent filing mistakes and how to prevent them
• What tax breaks your industry is entitled to
• Providing services — how to know when you're supposed to pay sales tax
• The often misunderstood general rule on taxation of computer software
• The correct way to treat taxation of transportation and shipping charges

Maintain Records That Stand Up Under Fire In An Audit

• The best answer to the question: Why are you doing it that way?
• 2 statements you must never make to an auditor
• Recordkeeping essentials — including exemption documentation
• Best practices to ensure you have the right support in an audit
• Where to look for exemptions and exceptions
• When you are personally liable for tax mistakes and how to make sure this never happens
• What to do immediately if taxes have been overpaid
• The consequences of underpayment — important information about what to expect

CPE CREDIT

Fred Pryor Seminars and CareerTrack are registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

CPE certificates will be available 10 days after your event has ended.

Top FAQs

What is meant by 'Sales & Use Tax'?

Sales tax generally can be described as a tax imposed by state and local governments that is paid by apurchaser of goods and services. Use tax is a tax that you have to pay if you purchased a product or service and did not pay any sales tax.

Why are my clients concerned with Sales & Use Tax issues?

State governments are aggressively pursuing new avenues of taxation, so your clients want to avoid fines, penalties, and harm to their reputations. 

What is so difficult about Sales & Use Tax rules?

There are many different topics and rules covering a variety of industries such as Health Care, Hospitality, Manufacturing, Retail, and more.

What will I learn by taking your Sales & Use tax course?

A bunch, including key factors that determine which tax applies in each situation, how to identify where your company has nexus for sales and use tax purposes, and the most prevalent filing mistakes - and how to prevent them.