Learn best practices for more efficient handling of exemption certificates at every step of sales tax compliance.
Determining eligibility for sales tax exemptions and navigating the application process can prove to be difficult for taxpayers who do business in multiple states and jurisdictions. For example, states have different application processes and requirements regarding exemption certificates. This topic will help you understand the difference between an item that is excluded from sales tax versus an item that is exempt from sales tax, and the associated burden of meeting this under judicial scrutiny. In the context of sales tax exemptions, you will learn the three main categories of exemptions: use-based, product-based, and buyer-based exemptions. Further, the information will walk you through the often complicated process of applying for an exemption certificate and the proper information that must be completed in order for a seller to be eligible. Lastly, while there are certain general rules and guidelines applicable to most jurisdictions, state and local jurisdictions have nuanced rules and exemptions that do not apply everywhere. Consequently, this topic will explain the sourcing rules and assist you in identifying the proper jurisdiction certificate in the context of an interstate sale. Compliance is critical in today's business environment. Learn some best practices to better equip your business to be aware of changes and to be in a position to support your books and records under audit.
Learning Objectives
- You will be able to differentiate between an Exemption and an Exclusion.
- You will be able to identify the various types of exemptions.
- You will be able to understand the differences between the exemption types.
- You will be able to identify the proper steps in completing an exemption application.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Basics of Exemptions
- What Is the Difference Between an Exemption/Exclusion?
- Identifying the Proper Jurisdiction for Exemption Certificates
- Sourcing Rules for Interstate Sales
Categories of Exemptions
- Resale Certificate
- Use-Based Exemptions
- Product-Based Exemptions
- Buyer-Based Exemptions
Unique Industry/Product/Jurisdiction Exemption Issue
- Leasing
- Common Carrier
- Contractors Performing Work for an Exempt Entity
- Material Handling Equipment
- Home Rule (Louisiana, Colorado)
Exemption Application and Review Process
- Validity of Exemption Certificate Burden of Proof
- Completing Exemption Certificates
- Common Mistakes in Exemption Certificates
- MTC/SSTP Certificates
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last reviewed on May 29, 2024.
Call 1-866-352-9540 for further credit information.
CPE/NASBA - QAS Self Study 2.6 including Taxes 2.6
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Samantha K. Breslow
Horwood Marcus & Berk Chartered
- Associate with Horwood Marcus & Berk Chartered where she focuses her practice on multistate tax litigation and planning
- Resolves state and local tax controversies for a wide array of clients, including multinational Fortune 500 companies, investment partnerships, and high net worth individuals
- Advises clients on a range of state and local tax topics, including sales and use tax, franchise tax, corporate income tax, personal income tax, gross receipts tax, and unclaimed property
- Co-author of CCH's Annual Guidebook to Illinois Taxes
- Previously served as a multistate tax consultant at Deloitte Tax LLP, where she was active in state tax compliance and planning for high-yield investment partnerships, large law firms, and prominent corporations in most states and jurisdictions
- J.D. degree, University of Illinois College Of Law; B.A. degree in English and Spanish, The University of Texas at Austin
David W. Machemer
Horwood Marcus & Berk Chartered
- Attorney with Horwood Marcus & Berk Chartered and concentrates his practice in state and local tax matters
- Advises multistate taxpayers on the resolution of state and local tax controversies and planning opportunities in the arenas of sales and use, income, franchise, motor fuel, real property and employment taxes
- Brings a unique and practical approach to solving clients' problems; this is a result of his prior experiences working for a large multinational financial and leasing company and also having litigated state tax cases at the Illinois Attorney General's Office
- He understands the challenges and complexities of compliance in today's marketplace, and the significant risks and costs associated with noncompliance
- At the leasing company, he counseled business units in the fleet passenger and trucking, manufacturing, aeronautics, marine, and health care industries on state and local tax laws
- Defended sales and use tax audits in state and local jurisdictions all over the country; prior to that, he served as an Assistant Attorney General where he represented the Illinois Department of Revenue in state tax litigation matters
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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