2014 - Introduction to Sales and Use Taxation

Instructor: Miles Hutchinson
Description:
Sales tax? Use tax? What's the difference? Must I charge tax on my internet sales? Will I owe taxes in more than one state for the same sale? Why is my drop shipper charging me tax? Why did I receive a NEXUS Questionnaire and what if I don't respond to it? I just received a notice that I have to conduct a self-audit and report my findings to the state - is this for real? I need help!
Over 40% of state budgets are funded by sales tax. They know they are not receiving all the tax dollars they are owed. Yet many companies fail to comply with multi-state registration and collection. Untaxed internet sales have frustrated the states and they are actively lobbying Congress to change the rules. Are you in full compliance?
Why Should you Attend:
Join us and develop a solid plan to move your company toward sales and use tax compliance. Experienced CPA and businessman, Miles Hutchinson, will review the basics of sales and use taxation with you and answer your questions. He will brief you on legal developments in the area of taxation of internet sales. You will receive practical guidance to avoid audit assessments and penalties.
Objectives of the Presentation:
Learn the difference between sales and use taxes
Distinguishbetween taxable and non-taxable sales of both goods and services
Minimize the tax basis of your sales activities (the states are inconsistent)
Determine when you must tax your internet sales
Establish procedures to properly account for, accrue and report tax on untaxed purchases
Minimizetax on freight charges
Understand the limited protection provided by exemption certificates (they do not indemnify you from liability)
Identify the nexus triggers that could require you to register and pay taxes in states other than your home state
Be proactive when you haven't registered as required and avoid the penalties
Take advantage of best practices in managing sales and use tax compliance
Identify the key policies and procedures your company should have in place to help with tax audits
Learn about amnesty programs and how to take advantage of them
Receive a list of valuable resources to help you learn the different requirements of individual states for exemption specific transactions
Who can Benefit:
CFOs
Controllers
Tax Mangers
Accounts Payable Managers
Purchasing Managers
Compliance Managers of all companies and institutions who make sales of taxable goods and services.
http://www.onlinecompliancepanel.com/ecommerce/web...
Online Compliance Panel LLC.
38868 Salmon Ter, Fremont
California 94536, USA
Call: +1-510-857-5896