Description
Avoid costly audits and penalties and understand the law and proper recordkeeping.Sales and use tax laws are confusing and constantly evolving to adapt to an everchanging market. Businesses often struggle to keep up with and take advantage of new applications and developments. This topic is intended to best position businesses to understand when and where they are subject to Wisconsin’s sales tax jurisdiction, what transactions are taxable, and what possible exemptions might apply. You will be able to identify areas of potential risk, and should the business be subject to an audit, this information will familiarize you with the process and best practices of defending against an audit.
Date: 2021-09-29 Start Time: End Time:
Learning Objectives
Nexus
• Physical Presence Creates Nexus, Regardless of Amount of Business Done in State
• Wayfair Has Been Adopted and There Has Been a Recent Change in How the State Applies the Standard
• Affiliates Can Create Nexus
Tax Imposed
• Generally, on Sales of Tangible Personal Property
• Certain Digital Goods Are Subject to Tax and Is an Evolving Area
• While Only Certain Services Are Taxable, the Application Can Be Broad
Sourcing
• Tax Is Based on Location of Receipt
• Special Rules for Certain Industries and Types of Sales
• Local Taxes Can Be Imposed
Exemptions
• Resale, Nonprofit, and Government
• Manufacturing Exemptions
• Occasional Sale Application to Transactions
Audit Process
• Field Audit or Office Audit
• Appeals Process
• Penalties and Interest
AIPB ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Crystal Krenke-Husch Blackwell LLP, Joe Pickart – Husch Blackwell LLP, Bill Schenkelberg – Husch Blackwell LLP
