Identify the benefits and limitations of automation and the considerations to weigh prior to selecting an automation solution.
As businesses expand across jurisdictions, sales and use tax gets more challenging, increasingly pushing business taxpayers to consider automated solutions as one tool in the toolkit of their state and local compliance program. With so many options available, how's a taxpayer to choose? Tram Le and Meredith Smith explore the genesis of sales and use tax as the foundation for understanding how nexus is determined and the potential tax liabilities -- and risk -- that nexus incurs on your clients. They will discuss who collects sales and use tax and why, then help you identify the benefits and limitations of automation and the questions and considerations to weigh prior to selecting an automation solution. Finally, our presenters establish what a comprehensive sale and use tax compliance program looks like element by element to help clients minimize risk and stay compliant as their business grows.
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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
Discuss an Overview of Sales and Use Tax
- Sales and Use Tax Life Cycle and Nexus
- Who Collects Sales and Use Tax
- Sales and Use Tax Audits
Benefits and Limitations of Automation
- Benefits and Limitations
- Cost of Non-Compliance
- Where Automation Falls Short
Selecting Sales Tax Software
- Pre-Automation Questions and Considerations
- Comparing Automation Solutions
- Selecting Automation Solutions
You Have Software - Now What?
- Sales and Use Tax Compliance Plan
- Registration, Tax Types, and Returns
- Nexus Setup and Mapping
Other Considerations
- Exemption Certificates
- Manual vs. Automation Solutions
- In Summary
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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 revised on July 18, 2023.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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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
Tram Le, CPA, JD, LLM
TaxOps
Tram Le, CPA
- Senior manager
- Specializes in tax strategies for growing multi-state businesses, works closely with clients in all aspects of state and local tax (SALT) issues, and assists businesses in responding to notices issued by taxing jurisdictions
- Consults clients with complex tax issues and negotiations with state and local government
- Serves as an adjunct professor at the University of Texas at Arlington, where she teaches technical SALT topics to graduate-level students
- Government financial and forensic watchdog experience with the U.S. Government Accountability Office (GAO) and with the Treasury Inspector General for Tax Administration (TIGTA)
- J.D. degree, LL.M. degree
- Can be contacted at [email protected] or 720-227-0432
Meredith Smith
TaxOps
Meredith Smith, CPA
- 15+ years combining technical knowledge with an in-depth understanding of state and local tax (SALT) issues and business strategy
- Expertly navigates the web of tax laws governing SALT matters
- Performs nexus studies, identified risk areas and designs sustainable planning opportunities to achieve tax-specific business goals
- Practice covers state income tax, property tax, sales and use tax and business incentives and credits
- Former KPMG
- [email protected]
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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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