Understand the issues involved in complying with the sales tax registration and reporting requirements in multiple states.
Many companies that do business in several states do not fully understand the sales and use tax requirements for multistate businesses. The Streamlined Sales Tax Project and recent Wayfair decision provide guidance to businesses through the complexity in state sales tax systems.
This presentation is critical for company representatives responsible for sales and use tax billing and tax compliance to understand the issues involved in complying with the sales tax registration and reporting requirements in multiple states, familiarize themselves with the Streamlined Sales Tax Project and Wayfair decision, and identify the states where tax registrations are required. Failing to properly fulfill these requirements can result in sales and use tax exposure and potential penalties and interest.
Learning Objectives
- You will be able to describe the history of sales and use tax nexus, the implication of the Wayfair decision and its complexities.
- You will be able to discuss the types of varying sales and use tax laws the states impose and the resulting need for simplification that is included with the Streamlined Sales and Use Tax Project.
- You will be able to identify how the Streamlined Sales Tax Project has provided simplification in the imposition and administration of state sales and use tax.
- You will be able to recognize how the impact of the Streamlined Sales Tax Project can benefit taxpayers and ease the sales and use tax compliance process.
Agenda
Introductions
Sales Tax Basics
- Provide a General Explanation of the Basics of Sales and Use Taxes
- Provide Examples of Common Issues Regarding Variances in State Sales Tax Laws
- Provide Examples of Common Issues Regarding Nexus
Sales Tax Nexus
- Discuss the History of Sales Tax Nexus
- Examine Relevant Nexus Related Case Law Including Quill, Complete Auto Transit, Wayfair, etc.
- The Fallout From the Wayfair Decision Including Economic Nexus and Marketplace Facilitator Laws
Purpose of Streamlined Sales Tax Project
- Discuss the Origin and Purpose of the Streamlined Sales Tax Project
- Review the Participating and Non-Participating Streamline States
Accomplishments and Benefits of Streamlined Sales Tax Project
- Provide Examples of Streamline Projects Such as Standardized Definitions, Exemption Certificates, and Sales Tax Matrix
- Provide Specific Industry and State Examples of How These Apply
- Current Status of Streamlined Sales Tax Project
Questions and Comments
Speakers
Jose Dominguez,
Crowe LLP- Manager, State and Local Tax at Crowe LLP
- Primarily specializing in sales and use tax
- Member of the American Institute of Certified Public Accountants (AICPA) and Certified Member of the Illinois CPA Society (ICPAS)
- B.S. Degree in accounting, Loyola University, IL
Martin Joseph, CMI,
Crowe LLP- Managing Director, Crowe LLP
- Many years of sales and use tax experience and knowledge with clients around the country
- Focuses on a variety of sales and use tax issues with clients in a variety of industries including manufacturing, software, health care, and non-construction and construction services
- Tax experience includes over 20 years with Crowe
- Past tax experience with Ernst & Young, Price Waterhouse, Comdisco, and the Illinois Department of Revenue
Mary Jo B. Zuelsdorf, CMI,
Crowe LLP- Senior Manager, State and Local Tax at Crowe LLP
- Primarily specializing in sales and use tax, and state and local tax M&A
- Certified Member (Sales Tax) of the Institute for Professionals In Taxation (IPT), Associate member of Colorado Society of CPAs, and Associate member of Colorado Government Finance Officers Association
- B.A. Degree in accounting, Fort Lewis College, Durango, CO
Who Should Attend
This live webinar is designed for accountants, CPAs, presidents, vice presidents, CFOs, accounting managers, tax managers, controllers, bookkeepers, and enrolled agents.
