Gain a greater understanding of the pitfalls in sales and use tax compliance and obtain the tools to put this knowledge to work in minimizing your company’s sales and use tax exposure.
Effective control of use tax exposure requires an understanding of sales and use tax laws and critical evaluation of invoices for hidden dangers. Sales and use tax compliance is predominantly form over substance discipline where the documentary evidence of a transaction guides the proper application of tax.
Evaluation and retention of invoices and contracts is essential for ongoing, accurate compliance. The hidden dangers lurking in even the most seemingly innocuous of invoices can cost companies thousands of dollars under audit. Examinations of features such as shipping terms, defined shipping points, the nature and description of services performed, nexus implications for proper tax application, statements of tax and the rates of tax charged is essential.
Of equal importance is ensuring that the form of the transaction (i.e. the invoice) accurately reflects the substance of the transaction, because it is that form which governs the application of sales and use tax. Gain a greater understanding of the pitfalls in sales and use tax compliance and obtain the tools to put this knowledge to work in minimizing your company’s sales and use tax exposure.
Learning Objectives:
- You will be able to define concepts in sales and use tax.
- You will be able to discuss taxable types of transactions.
- You will be able to explain Economic Nexus.
- You will be able to discuss the Wayfair case.
This Live Webinar Covers These Hot Issues:
Concepts in Sales and Use Tax
- What Is Taxable?
- What Is Exempt?
- Basic Invoice Concepts
- In-State Vendors
- Out-Of-State Vendors
- Shipping Terms
- Shipping Address vs. Billing Address
- Shipping and Handling Charges
- Combining Two or More Items
- Exempt-Economic Development
- Exempt-Social
- Exempt-Administrative Ease
- Exempt-Avoid Double Tax
- Exempt-Inputs/Outputs
- States Relying on Sales Tax for Revenue
- Reciprocity
- General Rule
- Use Taxes
- Nexus
- Economic Nexus
- Commerce Clause and Dormant Commerce Clause
- Substantial Nexus
- Immediate Considerations – State-By-State Passed Legislation
- Aftermath of Court's Decision
- Lack of Clarity
- Watch for Going Forward
- H.R. 6824 – Online Sales Simplicity and Small Business Relief Act
Credit Information (Sponsored by Lorman Education Services):
- CPE
- AIPB
- IAPP
- NASBA
For Detailed Credit Information page
click here
Only registered attendee will receive continuing education credit.
Faculty
Nathan R. Runyan, Holland & Hart LLP
- Attorney at Holland & Hart LLP
- Practice emphasizes a complete range of state and local tax matters including state income taxes, franchise taxes, state and local sales and use taxes, property taxes, and representing clients in government relations, administrative law, and commercial litigation
- Conducts regular seminars and workshops on state and local tax topics
- Author of ABA Property Tax Deskbook®, Utah Chapter, 2015-2017; ABA Sales and Use Tax Deskbook®, Utah Chapter, 2015-2017; COST, Semi-Annual Legislative Updates Utah Chapter, 2012-2018; ABA Multistate Tax Practice Compendium, Editor all 50 states 2017; ABA Multistate Tax Practice Compendium, Utah Chapter, 2017
- Recognized as Mountain States Super Lawyers® Rising Stars, Tax, 2014-2018; Utah Business Magazine®, Utah Legal Elite, Up and Coming, 2016-2018; Utah State Tax Commission, Auditing Division, Employee of the Year, 2006-07
- Member of the Utah State Bar, Tax Section0, chair, 2017-2018; vice chair, 2016-2017; treasurer, 2015-2016; programs chair, 2014-2015; J. Reuben Clark Law Society, member; Boy Scouts of America, volunteer local leader
- Reported cases: Mind & Motion Utah Investments, LLC v. Celtic Bank, 2016 UT 6; Rent-A-Center v. Utah State Tax Commission, 2016 UT 1; Anadarko v. Tax Comm’n, 2015 UT 25
- J.D. degree, magna cum laude, Brigham Young University, J. Reuben Clark Law School; B.S. degree in accounting, magna cum laude, Brigham Young University, Marriott School of Management, BYU Journal of Public Law, editor-in-chief
- Can be contacted at 801-799-5934 or nrrunyan@hollandhart.com
(Not available outside the US)