Training Course Syllabus:

Sales and Use Tax - Compliance and Best Practices

Course Description:

Sales and Use Tax Compliance is among the most challenging areas for Accounts Payable professionals to master. Currently, 45 states and the District of Columbia levy a sales and use tax. Five states do not, but individual counties within those states may. In addition, Congress is currently considering legislation that would create a National Internet Sales Tax.

This 2-day seminar will cover compliance and best practices regarding Sales and Use Tax in detail. The history of the sales tax, and its constitutional requirements, will be covered. "Nexus", meaning a company´s legal requirement to register and comply with a given State´s sales tax code, will be examined with a case study. The Use Tax will be covered, along with the various cost bases used to calculate it. Sales tax compliance averages around 80% nationwide, while Use tax compliance only averages about 20%. This seminar will explain why.

We will also cover how to recover an overpayment of sales and use tax, and how your company can minimize (or even eliminate) paying use tax to multiple states. We will examine how to handle a sales and use tax audit, as well as your company´s rights if you are found to be in deficiency. Finally, you will be provided with two resources that will greatly assist you compliance efforts, and be taught how to most effectively use them. If Sales and Use Tax compliance is a source of frustration for you, this is a seminar you won´t want to miss!

Learning Objectives:

Learn how to make sense of complicated Sales and use Tax legislation
Learn how to recognize when "nexus" might exist and how to register with a given state
Learn how to properly calculate your Use Tax liability….without overpaying
Learn how to survive a Sales and Use Tax audit, and how to use Judicial Review if you assessed a deficiency balance
Learn more about the proposed Marketplace Fairness Act of 2015, and the implication for your company
Learn about resources that will help make your company´s compliance much easier

Course Benefits:

Full understanding of the origin of the Sales and Use Tax and constitutional requirements for it to be legal
Full understanding of "nexus" and how to determine if your company should register in a given state
Comprehensive analysis of the Use Tax, including various cost bases and reciprocal agreements between states
Comprehensive analysis of the Sales and Use Tax audit….and how to survive one!

Areas Covered:

Topics covered include:

History/Legal Requirements for Sales and Use Tax
Nexus
Use Tax and Cost Bases
Marketplace Fairness Act of 2015
Sales and Use Tax Audits
Judicial Review
Streamlined Sales Tax Agreement
Multi-State Tax Commission
Sales and Use Tax Decision-making Flowchart

Course Outline:

DAY ONE (8:30 AM – 4:30 PM)

Registration Process: 8:30 AM – 9:00 AM

Session Start Time: 9:00 AM

Introduction to Sales and Use Tax
Origin and History
Regulatory Framework
Nexus
Definition and Examples
Case Study
Marketplace Fairness Act of 2015 and Potential Implications
When Does a Buyer Become an Owner? Why Does it Matter?
FOB Origin
FOB Destination
“Strategic” Warehousing
Saving Money on County Sales Tax
Case Study Two – Legal Avoidance of the Sales Tax within the Commercial Sector
The Use Tax and Cost Bases
Be in Compliance….But Don’t Overpay!

DAY TWO (8:30 AM – 4:30 PM)

You’ve Overpaid….Now What?
3 Ways to Recover an Overpayment….and The One You Should Avoid Using
Amend, Amend, Amend
Reciprocal Agreements – Getting Money Back You Never Knew You Were Entitled To
The Sales and Use Tax Audit
Strategic Audit Techniques – You are in Control!
Deficiency Assessments
Judicial Review – Your Day in Court!
The Streamlined Sales Tax Agreement
Uniform Product/Service Definitions
Rate/Boundary Database
Sales Tax Exemptions – You May Be Costing Your Company Money If You Don’t Know These!
Multi-State Tax Commission
Nexus Determinations
Alternative Dispute Resolution
Joint Audit Program
Judicial Review
Notice of Deficiency
Right to Appeal
Administrative law Judge Hearing
Fines/Penalties for Sales Tax Non-Compliance
The Golden Rule of Sales and Use Tax
Overpayment and Underpayment Risk – Managing and Minimizing It
Sales and Use Tax Decision-Making Flowchart
Examples and Comprehensive Case Study.

Seminar Summary:

Sales and Use Tax Compliance is among the most challenging areas for Accounts Payable professionals to master. Currently, 45 states and the District of Columbia levy a sales and use tax.  (see full course description)

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