Description
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.
Date: 2025-01-23 Start Time: 1:00 PM ET End Time: 2:05 PM ET
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.