Sales Tax Jumpstart Office Hours. October 2, CPE Credit

Transcription

1 Sales Tax Jumpstart Office Hours October 2, CPE Credit Presented by the Sales Tax Institute Speaker: Diane L. Yetter, Sales Tax Institute

2 Sales Tax Jumpstart September 13 to November 8, 2018 Before the Class: Please join the webinar 7 minutes before the scheduled time of the call for a prompt start. If you have never used Go To Webinar before please take time today to test your connection before your session here: If you have trouble logging on to GoToWebinar, please view the System Requirements: We are aware that some past users have had issues logging in using Internet Explorer or if they have an older version of Go To Webinar installed on their machine. If this is the case you can try uninstalling GoToWebinar and reinstalling or you might want to try an alternative browser. If you continue to have trouble logging on, please call in on the phone using the number and passcode provide in your log-in from GoToWebinar. You can follow the PDF materials which can be accessed at Day of Class: You will have received a personalized link for each class session to use to log into the webinar. Use this link and do not share the link with anyone else. It helps us monitor attendance and gives us the ability to assist you if there are technical issues. You will be able to listen to the webinar either through your computer or via a telephone connection. This information will also be in your personalized . If you have not received the dial in information, please contact us immediately at info@salestaxinstitute.com for assistance. If you have technical difficulties during the webinar, you will be able to chat online with our technical support through the Go to Webinar application. If you cannot log into Go To Webinar, please call our office at x3 for immediate assistance or info@salestaxinstitute.com. Please be aware that it is a violation of our copyright to record the class sessions. CPE Information: Webinar attendees can earn 1 hour of CPE credit in the Taxes field of study for today s session. During the webinar, we will use polling questions throughout the scheduled presentation time. In order to receive CPE credit, you will need to participate in the polling questions. After the webinar, you will receive an from newsletter@salestaxinstitute.com containing a link to complete a webinar evaluation form. To receive CPE credit, you will need to complete the evaluation form online and have participated in the polling questions.

3 The Sales Tax Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Other Sales Tax Institute Courses and Webinars Please visit for more information on the Sales Tax Institute s live and online course offerings and webinars. The following webinars and live courses are currently scheduled. Visit for additional details and registration and additional offerings. Live Webinars: October 22, 2018 Sales Tax Issues for Retailers After Wayfair November 28, 2018 Manufacturing Sales Tax Exemptions That'll Save December 20, Construction & Real Property Sales Tax Deep-Dive Webinars On-Demand - available anytime: Sales Tax 101 Basic Concepts of Drop Shipments Sales Tax for E-Commerce Effective Audit Defense Techniques Sales Tax Challenges with Services Save Time & Eliminate Guesswork with Effective Tax Research

4 Diane L. Yetter, CPA, MST Diane L. Yetter is a strategist, advisor, speaker and author in the field of sales and use tax. She is president and founder of YETTER TAX, a sales tax consulting and tax technology firm in business since She is also the founder of The Sales Tax Institute, a premier think tank that offers live and online courses to educate business professionals about sales and use tax. Diane works with an extensive network of capable partners to deliver a variety of sales tax services ranging from tax technology to tax policy and planning and training. She works with clients of all sizes from Fortune 10 to small, family-owned companies in a variety of industries. She is a Certified Implementation Partner and Trainer with Thomson Reuters ONESOURCE Indirect Tax, a Certified Training and TDM Specialist for Vertex, Inc. and a Business Partner of Avalara and VertexCloud. As a speaker, Diane is frequently asked to present to industry groups concerning sales and use tax issues including the Council on State Taxation (COST), Chicago Tax Club, Diversified Communications (IOFM and Accountex), the Institute of Professionals in Taxation (IPT), National Association of Credit Managers (NACM), National Association for Retail Marketing Services (NARMS), Vertex User Conference, Thomson Reuters User Conference, and Avalara. As an author, Diane has written articles concerning sales and use tax issues; was editor for the edition of the Information Technology Association of America Software & Services State Tax Report and authored Drop Shipments: Taxation, Compliance and Planning and Multistate Guide to Sales and Use Tax: Manufacturing, both published by CCH. She also is the author of the US Sales Tax Chapter for the IBFD VAT Worldwide Research Database. Diane provides answers to sales tax questions on the website She has also appeared as an expert witness. Diane is a member of the AICPA, Illinois CPA Society, Chicago Tax Club, Chicagoland Chamber of Commerce Taxation Committee, Taxpayers Federation of Illinois and the Institute of Professionals in Taxation. She is a member of the Practitioner Connection with the Council on State Taxation, and represents client concerns on a number of task forces. Diane was named in Accounting Today s 100 Most Influential People in Accounting for 2011, 2012, 2017 and Diane serves on the KU Endowment Association s Board of Trustees and is a Past Chair of the Dean s Board of Advisors, University of Kansas School of Business where she is also an adjunct professor, teaching topics on state and local taxation and entrepreneurship. Diane earned a BS in accounting and business administration from the University of Kansas in 1985 and an MS in taxation from DePaul University in Prior to founding the company, Diane was a state and local tax manager in the Chicago office of Arthur Andersen LLP, the sales and use tax director for the Quaker Oats Company, and a sales and use tax auditor for the Kansas Department of Revenue.

5 Office Hour #1 October 2, 2018 Sales Tax Determination Process Jurisdiction Determination Jurisdiction with Right to Tax Nexus Determination Tax Determination Product Classification Taxability and Exemptions Sourcing Calculation 2 Copyright Sales Tax Institute

6 Sales Tax Collection How do you conduct business? Which tax are you legally required to file? Separation on invoice Purchaser pays the tax vs tax imposed on seller (seller privilege states) Consumer s Use Tax imposed on seller cost not passed on directly (service, construction) 3 Remote Seller Updates D.C. Internet Sales Tax Amendment Act 0f 2018 public hearing to be held October 10, 2018 Nevada economic nexus regulation was approved by Legislative Commission on Sept 27. October 1, 2018 effective date New Jersey marketplace bill cleared assembly on Sept 27, awaiting Gov. signature 4 Copyright Sales Tax Institute

7 Economic Nexus: Enacted and Proposed Legislation X District of Columbia 5 N/A Proposed in 2018 Enacted X Marketplace Nexus: Enacted and Proposed Legislation X N/A Proposed in 2018 Enacted 6 Copyright Sales Tax Institute

8 Registration After a nexus study has been conducted to determine where a taxpayer has a presence, registration must occur. The taxpayer needs to determine which taxes it will be required to collect or pay. Sales tax vs. Seller s use tax vs. Consumer s use tax How the taxpayer registers can impact the return they are required to file and the rate they are required to collect. 7 Key Features of SST Rate simplification Uniform rounding rules Exemption certification Taxability matrix Amnesty provisions Sourcing rules Sales tax returns 8 Copyright Sales Tax Institute

9 Should I Register through SST? Pros: If you are a voluntary seller, the state pays for your fees if you use a CSP Simplified registration and account maintenance Cons: You need to register in all full member states Most benefits if use a CSP 9 Questions/Discussion 10 Copyright Sales Tax Institute

10 Next Class Registration Homework Review Exemptions Drop Shipments 11 Don t Forget Please complete the survey/evaluation after each session we value your input If you need CPE you can t get it without the evaluation form completed for that session You also need to participate in the polling questions Post any questions in the Linked In Group If you have answers to classmates questions or other comments please reply 12 Copyright Sales Tax Institute

11 Get Social with Sales Tax /company/sales taxinstitute /salestaxinstitute Sales Tax Institute 910 W. Van Buren, Suite 321 Chicago, IL (312) /user/salestaxinstitute 13 Copyright Sales Tax Institute