Use Taxes – The Hidden Dangers and Expanding Nexus (OnDemand Webinar)

$219.00

SKU: 405573EAU

Description

Gain a greater understanding of the pitfalls in sales and use tax compliance and obtain the tools to put this knowledge to work in minimizing your company’s sales and use tax exposure.Effective control of use tax exposure requires an understanding of sales and use tax laws and critical evaluation of invoices for hidden dangers. Sales and use tax compliance is predominantly form over substance discipline where the documentary evidence of a transaction guides the proper application of tax. Evaluation and retention of invoices and contracts is essential for ongoing, accurate compliance. The hidden dangers lurking in even the most seemingly innocuous of invoices can cost companies thousands of dollars under audit. Examinations of features such as shipping terms, defined shipping points, the nature and description of services performed, nexus implications for proper tax application, statements of tax and the rates of tax charged is essential. Of equal importance is ensuring that the form of the transaction (i.e. the invoice) accurately reflects the substance of the transaction, because it is that form which governs the application of sales and use tax. Gain a greater understanding of the pitfalls in sales and use tax compliance and obtain the tools to put this knowledge to work in minimizing your company’s sales and use tax exposure.

Date: 2019-01-31 Start Time: End Time:

Learning Objectives

Concepts in Sales and Use Tax
• What Is Taxable?
• What Is Exempt?
• Basic Invoice Concepts
• In-State Vendors
• Out-Of-State Vendors
• Shipping Terms

Invoicing Pitfalls
• Shipping Address vs. Billing Address
• Shipping and Handling Charges
• Combining Two or More Items

Types of Transactions

Exempt Transactions
• Exempt-Economic Development
• Exempt-Social
• Exempt-Administrative Ease
• Exempt-Avoid Double Tax
• Exempt-Inputs/Outputs

Looking Into the Future
• States Relying on Sales Tax for Revenue
• Reciprocity
• General Rule
• Use Taxes
• Nexus

Wayfair
• Economic Nexus
• Commerce Clause and Dormant Commerce Clause
• Substantial Nexus
• Immediate Considerations • State-By-State Passed Legislation
• Aftermath of Court’s Decision
• Lack of Clarity
• Watch for Going Forward
• H.R. 6824 • Online Sales Simplicity and Small Business Relief Act

No Credit Available

Nathan R. Runyan-Holland & Hart LLP