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Manufacturers - Ways to Avoid Large Financial Risks if Audited for Sales and Use Taxes

Date: Tuesday, January 15, 2019
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00
 

Gain a better understanding of the exemptions that apply to Wisconsin manufacturers and the requirements to claim the exemptions.

Gain a better understanding of the exemptions that apply to Wisconsin manufacturers and the requirements to claim the exemptions. Wisconsin’s sales and use tax law is very complex for manufacturers.

As a result, many errors are made by manufacturers, including both underpayments and overpayments of tax. The Wisconsin Revenue Department audits many manufacturers which often results in large tax liabilities, interest and penalties.

This topic will help you identify exemptions that directly and indirectly apply to your manufacturing operations and the requirements that must be met to claim the exemptions. You will also obtain information to help you improve your compliance with the sales and use tax law and avoid large financial risks if audited.

Learning Objectives:

  • You will be able to identify exemptions that directly and indirectly apply to your manufacturing and non-manufacturing operations, including exemptions often overlooked.
  • You will be able to recognize how the sales and use tax law affects your business.
  • You will be able to review manufacturing related issues.
  • You will be able to explain helpful tips to avoid costly audits and penalties.
This Live Webinar Covers These Hot Issues:

Overview of Wisconsin Sales and Use Taxes

Manufacturing

• What Is Manufacturing? - Six Requirements That Must Be Met
• Scope of Manufacturing - Where Does Manufacturing Begin and End, What's Included in the Process?
• Who Are Manufacturers?

Exemptions That Directly Apply to Manufacturers

• Machinery and Equipment
• Ingredients and Consumables
• Fuel and Electricity
• Containers and Packaging Materials

Manufacturing Related Issues

• Waste Treatment Exemption
• Research and Development and Prototypes
• Waste Reduction and Recycling Exemption

Other Exemptions That May Apply to Manufacturers (Including Those Often Overlooked)

Sales by Manufacturers

Tips to Avoid Costly Audits and Penalties

Credit Information (Sponsored by Lorman Education Services):

  • CPE
  • AIPB
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Jack E. De Young, CPA, De Young Tax Consulting

  • More than 40 years’ experience in sales and use taxes
  • Provides sales tax consulting to CPA firms and companies throughout Wisconsin
  • Specializes in Wisconsin sales and use taxes, including representing clients in audits and appeals, refund claims, compliance reviews, voluntary disclosure and training
  • Previously with Wisconsin Department of Revenue as an auditor, criminal investigator, director of appeals and assistant administrator. Also was a sales tax consultant for a large regional CPA firm
  • Speaker at over 200 seminars on sales and use taxes
  • Member of WICPA and WICPA State Taxation Committee
  • Recipient of 'Outstanding Tax Professional' award from UW-Milwaukee Tax Association and Corporate Report Wisconsin magazine
  • B.B.A. degree, University of Wisconsin- Madison
  • Can be contacted at 608-222-8156 or jackdeyoung@charter.net

(Not available outside the US)