Learn how sales and use tax relate to each other and gain an understanding of exemptions.
Ongoing litigation, multistate legislation, and administrative changes have been altering the landscape of sales and use tax compliance for businesses operating in a multistate environment. Over the last several years, these issues are not limited to online businesses selling goods to customers in multiple states. Many services are moving toward a digital platform, which creates significant sales tax issues in states that impose taxes on services. This topic covers the basics of sales and use tax, including how the two types of taxes work together, which state or local jurisdiction(s) can impose the tax, and how to evaluate when tax collection is required. This information also addresses, in general, what types of questions to ask to determine which goods and services are taxable in a particular state, which exemptions apply, and tips for documenting them
Learning Objectives
- You will be able to describe how the sales and use tax work together.
- You will be able to discuss how to determine which state can tax a particular transaction.
- You will be able to explain how to identify when a particular state can impose tax collection responsibilities on a seller.
- You will be able to identify the three main categories of exemptions.
Agenda
How the Sales Tax and Use Tax Work Together
- Sales Tax
- Use Tax
- Physical Presence, Economic Nexus, and Marketplaces
Taxable Items
- Tangible Personal Property
- Taxable Services
- Who Pays?
Exemptions
- Entity Exemptions
- Item Exemptions (Including Tax Holidays)
- Use Exemptions
Speakers
Ms Christina A. Mondrik, Esq, CPA,
Mondrik & Associates- Board certified in tax law by the Texas Board of Legal Specialization
- Founder of Mondrik & Associates
- State and federal tax controversies and litigation
- Conducts regular seminars and workshops on state and federal tax
- Past-chair, Federal Tax Policy Committee, Texas Society of CPAs
- Chair, Texas State Bar Tax Section
- Sales and Use Tax Subcommittee Chair, State and Local Tax Committee, ABA Section of Taxation
- B.B.A. degree in accounting, University of Texas, Austin; J.D. degree, University of Texas School of Law
- Can be contacted at cmondrik@mondriklaw.com or 512-542-9300
Who Should Attend
This live webinar is designed for accountants, CFOs, controllers, tax managers, presidents, vice presidents, partners, bookkeepers, and other accounting professionals.
