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Use Tax: The Hidden Danger in Invoices
Date: Tuesday, December 5, 2017
Sponsored by Lorman Education Services
Gain a greater understanding of the dangers lurking in the invoices. Get the facts and know your sales tax requirements to remain compliant.
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. Examination 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.
This Live Webinar Covers These Hot Issues:
Sales and Use Tax Compliance Overview
Concepts in Sales and Use Tax
Types of Transactions
Looking Into the Future
Credit Information (Sponsored by Lorman Education Services):
For Detailed Credit Information page
John R. Morrow, JR Morrow Consulting, LLC
(Not available outside the US)