Sales and Use Tax - Best Practices

Instructor: Scott Transue
Product ID: 704045
  • Duration: 90 Min

recorded version

1x Person - Unlimited viewing for 6 Months
(For multiple locations contact Customer Care)
Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Nov-2015

Training CD / USB Drive

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(For multiple locations contact Customer Care)
CD/USB and Ref. material will be shipped within 15 business days

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Read Frequently Asked Questions

This training program will explore the origins of the sales and use tax, explore how and when it applies, and discuss ways to legally minimize (or even eliminate) liability. Sales and use tax is among the most complex areas of compliance for accounting professionals. Given that each state regulates the tax in its own way, companies that operate in multiple states have a detailed (and sometimes costly) compliance burden. Additionally, the use tax is often misunderstood, misapplied, and overpaid. Best practices for dealing with a sales tax audit will also be explored in the webinar.

Why Should You Attend:

Most companies do not have a good handle on the sales and use tax compliance requirements in the states where they do business. States are becoming increasingly complex as to what constitutes a “substantial business presence” and therefore, the need to register and remit sales tax. Use tax is an even more complex area, and compliance is around 20%. The ultimate weapon states have at their disposal is the sales and use tax audit, which consumes staff time and resources. State auditors can sometimes be aggressive, even when no liability is ultimately proven.

This webinar will:

  • Cover the essentials you need to know as an accounts payable professional responsible for collecting and remitting sales and use tax.
  • Detail the lesser-known scenarios that cause many states to determine that you need to register and remit sales tax.
  • Describe how best to measure cost basis for the use tax so that your company does not overpay.
  • Discuss how best to handle a sales and use tax audit so that you’re fully prepared, and able to minimize staff time and resources.
  • Discuss the concept of reciprocity and how you can use it to minimize (or even eliminate) use tax liability.

Areas Covered in the Webinar:

  • The Origin of the Sales and Use Tax
  • Nexus - Determining Whether You Should Register in a Given State for Sales Tax Purposes
  • The Use Tax - Cost Basis and Ensuring You Don’t Overpay
  • Reciprocity Agreements - How States Give You Credit for Taxes Paid to Another State
  • The Sales and Use Tax Audit - Don’t Panic…..Be Prepared!
  • The “Absorption” Concept - How to Use the Sales Tax as a Competitive Pricing Tool (Where Legal)
  • How Your Advertising Expenses Can Inadvertently Cause You to Owe Sales Tax!
  • Sales and Use Tax Best Practices

Who Will Benefit:

  • Tax Managers
  • CFOs
  • Controllers
  • Accounting Managers
  • Auditors
  • Compliance Managers
  • Risk Managers

Instructor Profile:

Scott Transue is an Enrolled Agent based out of Albany, New York. He owns his own tax preparation and representation firm, and has personally completed over 500 individual tax returns. He has unlimited representation rights for taxpayers and companies experiencing issues with the IRS.

He received a Master of Public Administration degree from the State University of New York at Albany. His professional career has included time as commissioner of finance for the city of Gloversville, New York and as a senior accountant with the New York State Department of Environmental Conservation.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter.

We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email call +1-888-717-2436 (Toll Free).

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