The purpose of this seminar is to provide professionals with a detailed discussion of the Nevada sales and use taxes. The seminar is directed toward those individuals who will need to handle compliance, audit and appeal issues dealing with Nevada's sales and use tax, as well as planning techniques to minimize sales and use tax liability. The seminar will also provide insight into current Nevada law and new developments as well as multistate tax issues.
- Manufacturing exemption issues
- Local sales and use tax issues
- Common issues on mixed goods/services transactions
- Handling audits
8:30 a.m. - 9:50 a.m.
I. Introduction To The Department
A. Organization Of The Department Of Taxation
B. Taxpayers' Bill Of Rights
A. Taxable Goods And Services
B. Use Taxes
C. Non-Taxable vs. Exempt Items
D. Credit For Taxes Paid To Other States
E. Registration, Permit And Reporting Requirements
F. Freight Charges
G. Tax Included Contracts
9:50 a.m. - 10:00 a.m.
10:00 a.m. - 12:00 p.m.
III. Taxable Services
A. Common Taxable Service Issues
B. Mixed Taxable/Nontaxable Services
C. Property Management Companies
D. Taxing The Internet And Related Transactions
E. Insurance Services
F. Computer Consulting Issues
G. Telecommunications Services
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:30 p.m.
IV. Nevada Sales And Use Tax
A. Types Of Exemptions
B. Claiming Exemptions
C. Manufacturing Exemptions
D. Resale Exemptions
E. Agricultural Exemptions
F. Drop Shipments (Third-Party Sales)
G. Export Sales
H. Fulfillment Sales Contracts
2:30 p.m. - 2:40 p.m.
2:40 p.m. - 3:10 p.m.
V. Selected Issues
A. Forming A Service Business
B. Buying An Existing Business
C. Bad Debts
D. Operating vs. Finance Leases
E. Sale/Leaseback Transactions
F. Third Party Financing-Bad Debt Deduction
G. Equipment Furnished With An Operator
3:10 p.m. - 3:40 p.m.
VI. Tax Planning
A. Minimizing Taxes On Formation
B. Restructuring An Existing Business
C. Improving Compliance And Reporting
D. Multi-State Businesses
E. Managed Audits
F. Avoiding Personal Liability
3:40 p.m. - 4:00 p.m.
VII. Department Audit And Revenue
A. Audit Selection, Function And Procedures
B. Revenue Function And Procedures
4:00 p.m. - 4:30 p.m.
VIII. Surviving And Challenging Audits
A. Department Of Taxation's Rights And Powers vs. Nevada Tax Commission's Rights And Powers
B. Getting Information From The Department
C. Voluntary Disclosure Of Tax Problems
D. Strategies In Handling An Audit
E. Penalties And Interest
F. Contesting Your Audit
G. Getting Refunds Of Overpaid Tax
H. Statutes Of Limitation On Assessments And Refunds
I. Tax Research/Information Using The Internet