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Procurement Cards and Sales Tax Compliance: Mastering the Complexities

Avoiding State Sales Tax Traps and Compliance Challenges, Navigating Audit Issues

Note: CLE credit is not offered on this program

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

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Conducted on Thursday, March 21, 2019

Recorded event now available

This course will prepare tax professionals with the tools and practical perspectives needed to sharpen their compliance practices for procurement card sales tax. The panel will review recent state developments on taxation of P-card purchases; state tax traps to avoid; and methods in managing and preventing audits.

Description

The use of procurement cards (P-cards, or company credit cards used for small-dollar purchases of supplies and materials) continues to grow in corporate America and among government agencies and nonprofits. P-cards continue to create oversight anxiety for corporate tax professionals.

Maintaining accurate and complete support documentation for procurement card transactions and negotiating up-front sales and use tax compliance agreements with states on P-card use are critical steps to avoiding sales tax issues that arise regarding P-cards. State sales tax auditors commonly investigate these issues in examinations of companies issuing or accepting procurement cards.

Will employees using procurement cards mistakenly pay sales tax on exempt purchases? Do they know to include a valid, completed exemption certificate with their purchases? If your organization is making the sale, are your personnel trained on taxability and exemption certificates?

As a corporate tax professional, you must ensure your company's processes are sound and train your employees on using and accepting procurement cards to prevent any sales tax compliance hassles that you will have to clean up later.

Listen as our panel of experts on procurement cards and sales tax helps you get a handle on this challenging area.

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Outline

  1. Examples of how specific states handle P-card transactions
  2. Compliance issues and options
  3. Working with issuers of P-cards
  4. Recordkeeping priorities
  5. Best practices for companies using P-cards

Benefits

The panel will provide guidance and thoroughly brief tax executives on:

  • Knowing which states charge sales tax on nearly all items commonly purchased with procurement cards and which states tax only certain purchases such as meals and hotel rooms
  • Taking an assertive role in preparing procurement and sales staffs to use procurement cards without making sales tax mistakes
  • Principal methods in managing and preventing state sales tax audits
  • Improving your compliance efficiency with adjustments to your own sales tax-compliance processes, both as a purchaser and seller

Faculty

Fleming, Thomas
Thomas J. Fleming, CPA, MST
Principal
Withum Smith+Brown

Mr. Fleming is a Principal with more than 17 years of tax and accounting experience concentrating in providing tax,...  |  Read More

Karpchuk, Jennifer
Jennifer Weidler Karpchuk
S.A.L.T. Practice Co-Chair
Chamberlain Hrdlicka White Williams & Aughtry

Ms. Karpchuk represents clients in various matters related to state and local taxation, with an emphasis on the...  |  Read More