Sales & Use Tax Workshop Agenda

Seminar: ID# 1003651

This course is available in both in-person and video conference formats.

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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