Managing Sales and Use Tax Risk: Reviewing Nexus Activities, Procurement Processes and Policies to Minimize Exposure
Recording of a 110-minute CPE webinar with Q&A
This course will provide sales and use tax advisers and compliance professionals with a thorough and practical guide to designing a policy and procedures review to identify sales tax exposure and eliminate unnecessary sales and use tax risk. The panel will discuss structuring test processes to evaluate nexus presence questions, review collections and payable accounts, and identify problem areas in the sales and use tax collection and reporting regime.
Outline
- Records and processes to examine in a sales and use tax compliance review
- Nexus reviews to ensure that the company has identified potential areas of economic presence
- Develop, automate and review a sales tax decision matrix, addressing the taxability of the Company’s purchases and sales
- Intra-company questionnaires to discern problem areas
- Use of prior year filings, previous audits and other documentations to determine sales and use tax risk
- Develop audit best practices and protocol
Benefits
The panel will discuss these and other important questions:
- Designing a policy and procedures review to discover and evaluate sales and use tax risk
- Evaluating state nexus standards and analyzing corporate activities in key states
- Monitoring sales and use tax payable accounts to ensure adequate controls are in place
- Implementing processes to verify that all registrations to accrue use taxes are current and accurate
- Reviewing a company’s procurement processes to identify hidden sales and use tax obligations
Faculty
Michael T. (Mike) Dillon
President
Dillon Tax Consulting
Mr. Dillon is an attorney and founder specializing in multistate sales and use tax matters for multistate and... | Read More
Mr. Dillon is an attorney and founder specializing in multistate sales and use tax matters for multistate and multinational businesses. For more than 25 years, as leader of his firm, practice leader for global accounting firms and in-house for two publicly-traded E-commcerce and Technology companies, Mr. Dillon has successfully helped companies identify multistate nexus, negotiate settlements of historical exposure, register and automate sales tax compliance processes, and address risk during M&A activity. He has successfully represented taxpayers in over 200 sales tax audits, and 500 Voluntry Disclosure Agreements (VDA), often coming in when “all hope is lost” to beneficially resolve the matter. Mr. Dillon is a member of the State and Local Tax Advisory Board for Strafford Publications. He is highly sought to lecture and author articles on sales tax matters for organizations such as AICPA, Strafford, BNA, CCH and the Center for Professional Education.
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Martin Eisenstein
Managing Partner
Brann & Isaacson
Mr. Eisenstein is one of the nation’s leading experts in state and local taxation of information... | Read More
Mr. Eisenstein is one of the nation’s leading experts in state and local taxation of information technology. He has wide experience in state and local tax issues and has represented prominent providers in major litigations, including filing amicus briefs in the United States Supreme Court. He is a regular contributor to State Tax Notes, among other publications, writing on state tax developments. Mr. Eisenstein has been selected consistently by his peers as one of The Best Lawyers in America.
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