Training Course Syllabus:

Sales and Use Tax in Nevada - State Specific Sales and Use Tax Seminar

Know the Latest Compliance Requirements and Developments

Accounting for sales and use taxes can be one of the most complicated and frustrating tasks accountants and lawyers tackle. States are cracking down on these taxes and yet the laws and definitions are as ambiguous as ever. Interstate and e-commerce sales are the norm today, but do you know exactly which transactions require taxing and reporting to the Department of Revenue and IRS? Don't just hope your clients stay under the government's radar; proactively ensure you are complying with the myriad of regulations. This seminar will bring you up to date on best practices when accounting for sales and use tax. Learn how to decipher whether or not a business has nexus in a state and identify what products and sales are exempt from sales tax; legally report tax information and resolve tax disputes. Back taxes and penalties can be costly for any business - don't leave your clients liable. Register today!

• Understand the latest federal and state developments regarding sales and use tax enforcement.
• Review how interstate and e-commerce sales have complicated reporting requirements.
• Be able to confidently identify when your business has nexus in a state.
• Review how physical presence and economic presence can impact your taxes.
• Know the unique filing requirements for your state.
• Avoid common record-keeping errors that can be costly for your business to remedy.
• Recognize why and how to claim tax exemptions.
• Avoid expensive penalties or criminal charges associated with default or fraudulent reporting.
• Understand how large sales or transfers of businesses can impact your taxes.

• IMPLEMENTATION OF THE NEVADA SALES AND USE TAX LAW
  8:30 - 9:30, Written by Gregory L. Zunino and William J. McKean
  Presented by William J. McKean in Las Vegas and Gregory L. Zunino in Reno
• Overview of the Nevada Constitutional, Statutory and Regulatory Scheme
  • The Impact of the Simplified Sales and Use Tax Administration Act (Chapter 360B) on the Interpretation of the Sales Tax (Chapter 372)
  • Administrative Procedures Act (Chapter 233B)
  • Taxpayer's Bill of Rights
• The Role of the Department of Taxation: Registration, Compliance, Audits, and Deficiency Determinations
• The Role of the Taxpayer: Filing Requirements, Voluntary Disclosure of Failure to Report, Request for Advisory Opinions
• The Role of the Tax Commission
• CLARIFYING NEXUS CONFUSION - WHO IS SUBJECT TO THE NEVADA SALES AND USE TAX LAW?
  9:30 - 10:20, Written by John S. Bartlett, Gregory L. Zunino and Matthew R. Policastro
  Presented by Matthew R. Policastro in Las Vegas and John S. Bartlett and Gregory L. Zunino in Reno
• The Constitution of the United States and the Supreme Court
• Litigation in the Gray Area
  • In-State Deliveries
  • Occasional Employee Visits
  • Trade Shows
  • Third Party Nexus
  • Economic Presence vs. Physical Presence
• The Marketplace Fairness Act
• Advising the Client with a Nexus Problem
• IMPOSITION OF THE SALES TAX
  10:35 - 11:25, Written by Paul D. Bancroft and Matthew R. Policastro
  Presented by Paul D. Bancroft and Matthew R. Policastro in Las Vegas and Paul D. Bancroft in Reno
• The Sales Tax is Imposed on "Retailers"
• The Sales Tax is Only Imposed on "Sales" Made "at Retail"
  • Transfer for "Consideration"
  • Transfer to an Entity Upon Formation and Inter-Company Transfers
  • Treatment of Leases
• The Sales Tax is Only Imposed on Sales of Tangible Personal Property
  • Intangible Personal Property
  • Real Property
  • Personal Services (Bundled Transactions)
• The Sales Tax is Only Assessed on Sales Made in this State
  • Property Shipped from Inside Nevada to a Destination Outside Nevada
  • Property Shipped from Outside Nevada to a Destination in Nevada
• The Sales Tax is Calculated on Gross Receipts
  • Transportation Charges
  • Installation Expenses
  • Services Associated with the Sale
• IMPOSITION OF THE USE TAX
  11:25 - 12:25, Written by Paul D. Bancroft and Matthew R. Policastro
  Presented by Paul D. Bancroft and Matthew R. Policastro in Las Vegas and Paul D. Bancroft in Reno
  • The Use Tax is Imposed on the Storage, Use or Other Consumption
    • Nevada's Freeport Law
  • The Use Tax is Only Imposed on Storage, Use or Consumption that Occurs in this State
    • First Functional Use Outside Nevada
    • Duration of Use Prior to Entering Nevada
• EXEMPTIONS, DEDUCTIONS, CREDITS AND INCENTIVES
  1:25 - 2:25, Written by James M. Susa
  Presented by James M. Susa in Las Vegas and Reno
• Exemptions
• Deductions
• Credits
• Tax Incentives
• UNDERSTANDING SELECT CORE INDUSTRY ISSUES AND CONSIDERATIONS
  2:40 - 3:40, Written by John S. Bartlett and Matthew R. Policastro
  Presented by William J. McKean and Matthew R. Policastro in Las Vegas and John S. Bartlett in Reno
  • Food and Beverage (Including Complimentary Meals)
  • Construction
  • Manufacturing
  • Professional Services (Bundled Transactions)
• RESOLVING SALES AND USE TAX DISPUTES
  3:40 - 4:25, Written by James M. Susa
  Presented by James M. Susa in Las Vegas and Reno
• Audit Procedures and Managed Audits
• Penalties and Pre-Assessment Interest
• Criminal Penalties
• Remission of Penalties
• Dealing with Aggressive Collection Activity
• Payments Under Protest
• ANSWERING YOUR REAL WORLD QUESTIONS – Q&A SESSION
  4:25 - 4:40, Panel Discussion

Seminar Summary:

This seminar will bring you up to date on best practices when accounting for sales and use tax. (see full course description)

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