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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, June 23, 2022

  • 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.

$247.00
CPE
ALL

This webinar will address the latest state sales tax strategies, thresholds, and compliance obligations in response to the U.S. Supreme Court condoning a state's right to collect tax on remote sellers in South Dakota v. Wayfair Inc.

Faculty

Stacey L. Roberts
State and Local Tax Director
TaxOps

Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she guides dynamic businesses through compliance and strategic planning focused on minimizing risk and strengthening tax positions. Ms. Roberts honed her specialty at Andersen Worldwide/Andersen LLP, KPMG and Deloitte before moving in-house with a Fortune 500 company to administer state and local tax. She has also led the national SALT practice at a regional firm. Ms. Roberts is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker, instructor and author on SALT issues for industry and professional organizations.

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Meredith Smith
Partner
TaxOps

Ms. Smith expertly weaves real-life examples into why business taxpayers, tax professionals, and tax providers should care about complex state and local tax (SALT) issues. This knowledge comes from expertly navigating the web of tax laws governing SALT issues for nearly 20 years. From working with clients inside their business, she knows the questions, issues and strategies for resolution that keep businesses on the tax compliance track. Ms. Smith combines technical knowledge and in-depth industry understanding in performing nexus studies, identifying areas of risk, and designing sustainable planning opportunities for achieving tax-specific business goals. Her practice covers state income tax, property tax, sales and use tax, and business incentives and credits. Prior to TaxOps, Ms. Smith was a member of the SALT practice at KPMG, serving large, multi-jurisdictional corporations and multi-tier partnerships across industries. She is a frequent speaker and the host of the SALTovation podcast, a podcast series featuring leading voices in states and local tax. Listen in on your favorite channel: https://saltovation.captivate.fm/listen. 

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Description

Missouri, the last holdout state with sales tax to allow local governments to collect sales tax on online purchases, will implement new economic nexus standards in 2023. State economic nexus thresholds, or Wayfair thresholds, have been relatively static for years since extensive state legislative changes in the first year after the ruling.

Today, business taxpayers are conscious of these obligations and exceed Wayfair's nexus thresholds in various jurisdictions. In addition to the sales tax obligations, businesses may also have physical presence nexus and other tax obligations. Remote workforces can trigger nexus, making marrying a taxpayer's sales and income tax obligations necessary. For noncompliant taxpayers, remediation strategies should be a focus.

Sales tax is not simply a Wayfair issue, and taxpayers are often less aware of other nexus triggers. Wayfair is not just a prospective issue; clients may have arrearage issues to pursue. Even small sellers value sales tax software to tackle ongoing sales tax administration.

Listen as our panel of sales tax experts explains what triggers nexus, the interplay of income and sales tax, and managing sales tax audits post-Wayfair.

Outline

  1. South Dakota v. Wayfair Inc.: introduction
  2. Triggering nexus
  3. Specific states' responses to Wayfair
  4. Marrying income and sales tax
  5. Managing audits
  6. Best practices

Benefits

The panel will discuss these and other critical issues:

  • What triggers sales tax nexus in specific states?
  • How should businesses prepare for a sales tax audit?
  • How are sales tax obligations and income tax obligations related?
  • How small businesses can benefit from sales tax software
  • Comparing states' varying dollar and number of transactions thresholds

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Determine where businesses have a sales tax obligation
  • Identify sales tax registration requirements in specific states
  • Ascertain how sales tax and income tax obligations for SALT are intertwined
  • Decide steps a business can take to better manage a sales tax audit

  • 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+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of SALT taxation, nexus and apportionment as it applies to multi-state businesses.

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.