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Multistate Sales Tax Reporting and Remittance: Best Practices for Tax Professionals

Identifying Sales Tax Exposure, Sourcing, Apportionment, Determining Tax Liability, Home Rule Jurisdictions

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

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This program is included with the Strafford CPE+ Pass. Click for more information.
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Conducted on Thursday, May 23, 2019

Recorded event now available

This course will provide sales and use tax advisers and compliance professionals with a thorough and practical guide to overcoming challenges in sales and use tax collections and reporting for multistate taxpayers. The panel will discuss methods in identifying sales tax exposure and eliminating unnecessary sales and use tax risk, sourcing and apportionment issues, navigating the nuances of self-administration and home rule jurisdictions, determining tax liability, and identifying problem areas in the sales and use tax collection and reporting regime.

Description

In determining sales tax liability, multistate businesses must navigate changing state sales tax requirements post-Wayfair while facing increased scrutiny of their compliance procedures. As state and local governments rapidly revise tax laws, taxpayers are forced to take additional steps to ensure compliance with the reporting and remittance requirements of each state.

The challenges of sales and use tax reporting and remittance are littered with complex rules and could result in healthy penalties for noncompliance. A sales tax is imposed on the privilege of transacting business in a particular state or local jurisdiction based on the product or service being sold. Generally, the sale of tangible property is taxable unless there is an exemption, while services are generally exempt unless specifically taxable by statute. Tax professionals must peel away the layers of complexity of a variety of state and local rules to effectively navigate multistate sales tax issues, determine accurate tax liability, address sourcing issues and take advantage of state-by-state exemptions.

Listen as our panel addresses the new challenges of sales tax reporting and remittance, identifying sales tax exposure, eliminating unnecessary sales tax risks, addressing sourcing and apportionment issues, and navigating the nuances of home rule jurisdictions.

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Outline

  1. The current state of sales tax reporting and remittance obligations
  2. Challenges in determining the taxability of products and services
  3. Addressing sourcing and apportionment issues
  4. Navigating the application of state-by-state exemptions
  5. Best practices in reporting and remitting sales tax for multistate taxpayers

Benefits

The panel will discuss these and other key issues:

  • Unexpected multistate sales tax issues for businesses
  • Determining the taxability of products and services
  • Sourcing issues and how to overcome them
  • Select issues stemming from self-administered and home rule jurisdictions
  • Issues with single transactions that include both taxable and non-taxable items or services
  • Application of state-by-state exemptions
  • Identifying problem areas and best practices in reporting and remitting sales tax

Faculty

Dewan, Neeti
Neeti Dewan
Global Practice Leader, Transaction Tax Compliance
Ryan

Ms. Dewan leads a global team of experts with focus on streamlining clients’ internal tax operations and...  |  Read More

Geiger, Joseph
Joseph F. Geiger, Jr., Esq., CPA
Consulting Tax Manager
Vertex

Mr. Geiger works with the company's Tax Process Consulting Group and has more than 25 years of experience with...  |  Read More

Kooiker, Darcy
Darcy N. Kooiker
Principal, Transaction Tax
Ryan

Ms. Kooiker specializes in providing Washington state and local taxes and multi-jurisdictional transaction tax...  |  Read More