BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Thursday, January 5, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$247.00
CPE
ALL

This course will guide tax professionals and advisers on essential concepts and trends that tax staff must understand before they can effectively work on state and local sales and use tax compliance. The panel will discuss their thoughts on sales and use tax, sourcing transactions, marketplace facilitators, market-based sourcing rules, and revenue agency administration of sales taxes.

Faculty

Joseph F. Geiger
Consulting Tax Manager
Vertex, Inc

Mr. Geiger works with the company's Tax Process Consulting Group and has more than 25 years of experience with income, sales and use and other taxes, with particular expertise in tax appeals, audit controversies and reverse audits. He also has experience with taxation of P-card purchases. In addition he has worked in tax compliance for corporations and for public accounting firms.

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Monika Miles
President
Miles Consulting Group

Ms. Miles focuses on multi-state tax consulting. She provides consulting services on sales and use tax, federal and state income / franchise tax compliance, audit support, and credits and incentive reviews with an emphasis on enterprise zone tax benefits for California companies. Her clients are in a range of industries from manufacturing to telecom. Before helping found the consulting practice, Ms. Miles spent 11 years in Big Four public accounting firms.

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Description

Tax staff cannot be useful and dependable in state and local sales and use tax compliance until they grasp the fundamental concepts, starting with the critical distinctions between a sales and use tax. That is only the start--tax staff must also understand the tenets of the four general types of sales taxes.

Other key challenges include the need to separate state sales tax on invoices, understand how destination and origin sourcing of transactions work, and grasp developments regarding market-based sourcing and different kinds of attributional nexus.

Tax staff should understand the impact of typical state approaches to filing frequency, e-filing and e-payment, exemptions and certificates, and vendor compensation. Such fundamentals will put tax staff on the right path with sales and use tax compliance.

Listen as our panel reviews and explains the key concepts with sales and use tax in a multistate context, provides key developments regarding market-based sourcing, and offers best practices in achieving and maintaining state sales and use tax compliance.

Outline

  1. Essential concepts of sales tax
    1. Sales tax vs. use tax
    2. Four types of taxes (seller privilege, consumer levy, transaction, gross receipts)
    3. Alternative vendor responses to sales taxes (shifting, absorption, separation)
  2. Sourcing transactions
  3. Nexus
  4. Sales tax exemptions
  5. Marketplace facilitators
  6. Revenue agency administration of sales tax
    1. Filing frequency
    2. E-filing
    3. E-payment
    4. Vendor compensation

Benefits

The panel will drill into these and other essential aspects:

  • Understanding when a sales or use tax will apply and the differences between the types of sales taxes
  • Determining who is a marketplace facilitator
  • Grasping the meaning of important developments in sourcing
  • Identifying common sales tax exemptions and the need to present or collect, and verify, exemption certificates
  • Pinning down how states typically handle filing frequency, standard vs. e-filing, and payment options

NASBA Details

Learning Objectives

After completing this seminar, you will be able to:

  • Acquire improved fundamental grounding in sales and use tax concepts for more effective compliance in various states
  • Understand when a sales or use tax will apply and the differences between the types of sales taxes
  • Ascertain the meaning of essential developments in sourcing
  • Identify common sales tax exemptions: the need to present or collect, as well as verify
  • Recognize how states typically handle filing frequency, standard vs. e-filing, and payment options

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years plus business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules, supervising other preparers/accountants. Specific knowledge and understanding of practical guidance to avoid the most common and costly risk areas in sales and use tax compliance.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).