Managing your multistate tax environment to reduce your exposure to audit in a post-Wayfair world.
Particularly now that physical presence is no longer a safe harbor, sales and use tax professionals are faced with the legal and practical challenges of learning as many as 50 different state sales and use tax laws and regulations. No one could possibly learn all of the different state requirements and yet our jobs demand it. The purpose of this topic is to reveal the secrets to working in a multistate environment. You will learn the different types of taxing states which greatly reduces the complexity of a 50-state environment. Five states don’t even have sales and use taxes. You will learn the recent developments affecting nexus and reduce your exposure to audit from other states. Because audits in this area are inevitable, learn techniques for negotiating with auditors and how to reduce the amount they assert your organization owes.
- You will be able to define use tax accrual.
- You will be able to describe the current standard for establishing state tax nexus.
- You will be able to recognize potential sales and use tax exposure in your organization.
- You will be able to explain how to document multistate sales tax exemptions.