Take Charge of Your Sales and Use
Tax
In one day of intensive training on sales
tax and use tax, this seminar will review the major issues facing
sellers and buyers. This class will help make your operation more
efficient, make audits easier, and avoid penalties. At the end of
the day, you'll know about the things your company should be worried
about, and how to deal with them.
This seminar is ideal for
professionals from accounts payable, accounting, purchasing, operations,
executive management, and sales.
Seminar Topics Discussed
Introduction
The Basic Theory
- The source of the laws
- Self-assessment of use tax
- The difference between sales tax and
use tax
- Tangible personal property vs. other
types of property
- Complementary taxes
- Seller and customer responsibilities
- Absorption and separation
- Occasional sales
- Interstate commerce
- Timing of the transaction - which
state has jurisdiction
Major Tax Traps
- Failure to pay use tax
- Failure to get certificates (good
faith acceptance)
- Out of state shipments
- Nexus
- Sale of services in other states
- Exempt organizations
- Inter-company transactions
- Paying or charging wrong taxes
Opportunities for Tax Savings
- Manipulating delivery point
- Charging appropriate taxes
What is Use Tax?
- The reasons for use tax
- Interstate sales applicability
- Seller responsibilities
- Customer responsibilities
Nexus
- What is nexus?
- What typically gives a seller nexus in
a state
- The impact of nexus on sellers
- How states find sellers
- Mail order and Internet sales
- Voluntary disclosure (amnesty) programs
Resources
- Free Web resources
- Not-free Web resources
- Books you should own
- Newsletters
- Using lawyers and accountants more
effectively
- Using the tax department
- Systems - policies and procedures to
help you comply with the law
Basic of the Tax
- Finance charges
- Discounts
- Coupons
- Returned goods
- Bad debts
- Freight and delivery charges
- Installation charges
- Trade-ins
- Gratuities
- Warranties and maintenance agreements
Specific Industries
- Manufacturing
- Agriculture
- Real Property Contractors
- Governments
- Non-profits
What's Taxable?
- Admissions
- Clothing
- Food
- Motor vehicles
- Periodicals
- Leases and rentals
- Computers and software
- Drugs, medicine and equipment
- Repairs of tangible personal property
- Other Taxable Services
- Utilities
Local Taxing Issues
- Situs (sourcing rules)
- Local (county, parish, city)
variations on taxability will be addressed on a very limited basis
This course is always customized for
the state where the seminar is being done, with a multi-state
perspective. We'll discuss the local state, but will also describe
how other states typically handle the same issues. And we'll often
provide examples from states that do things in a particularly unusual
way to compare and contrast.
This seminar can be customized.
If
you would like to arrange for this seminar at your office, organization
or facility, please continue here.
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