Internet Sales Tax Issues-Wayfair - NASBA CPE Tax 1.5
- Speaker:Miles Hutchinson
- Product Code:GRC-90357
- NASBA CPE: 1.5
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NASBA CPE: 1.5
Delivery Method: Group Internet Based, Field of Study: Tax, Level: Intermediate, Prerequisites: None, Advanced Preparations - None.
Hot Issues in Multi-State Nexus & Internet Sales Tax-highlighting the SCOTUS Wayfair v. South Dakota Decision
Each year, states lose between $8 and $34 billion in sales tax revenue due to the history of rulings against states attempting to change the definition of nexus from physical presence to economic nexus.
On 6/21/18, the U.S. Supreme Court ruled in Wayfair, Inc. v. N.D, that, in the granddaddy of all nexus cases, the National Bellas Hess Case of 1967, the USSC got it wrong. In so doing, they opened the door for states to force out-of-state sellers with no physical presence in their state to register, collect and remit sales tax simply because they have customers in their states. Join us to gain valuable insight into the complex issues of interstate sales and the obligations of out-of-state (foreign) sellers to collect the destination state’s taxes in light of this new ruling.
Get up-to-date information about the retailing giants and their fights with the various states. Take a ring-side seat with an expert who will share the anticipated outcomes.
States are excited. They finally have an opportunity to collect the revenue they so desperately need. Billions of dollars of internet sales occur annually without tax. The states now have the opportunity to collect all of it from the retailers. In just 90 minutes, learn the different ways your company triggers nexus on itself and what it must do to comply with state regulations..
Why You Must Attend:
Will I owe taxes in more than one state for the same sale? Must I charge tax on my internet sales? Will the states force all sellers to comply or will they extend an exception for smaller businesses who do not have the resources to comply with the burden of multi-state tax filings. Why is my drop shipper charging me tax?
Learn how nexus works under Wayfair and the risks of not registering. Take the best corrective action when you discover you are out of compliance.
Areas Covered in the Webinar:
- Now that the states have the power to force all out-of-state
retailers to collect their sales tax; learn how they intend to execute the new
- Perform a SWOT analysis of your company regarding sales and
use tax knowledge and risk exposure.
- Get proactive. Lobby
your government leaders on this subject.
- Where the mega retailers stand in their fights to avoid
universal sales and use tax nexus and why their fight is your fight
- Stay connected. Always be aware of the state’s moves. Stay ahead of the states by planning for
their success while defending your preferences
- Where to begin if your company is delinquent in registering,
collecting and remitting other states’ sales and use taxes
- Learn how to work out “Offers in compromise” or “Voluntary
Disclosures” before the state finds you
Who Will Benefit:
- Information Reporting Officers
- Tax Managers
- Compliance Officers
- Compliance Managers
- Accounting Managers
- IT Managers
- Risk Managers
By Miles Hutchinson, CGMA
Miles Hutchinson is a CGMA and experienced businessman with over 35 years in the field. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a one billion dollar real estate development company. Miles is a professional speaker and consultant who has presented over 2,500 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools. His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.