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Current Issues in Software Taxation - Webinar

  • ID: 3989378
  • Webinar
  • 100 Minutes
  • Lorman Business Center, Inc.
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Keep yourself compliant and make sure you are familiar with the complexities of software taxation.

Existing tax and legal frameworks vary tremendously among states in such areas as cloud computing, electronically delivered software, and the treatment of prewritten vs. custom software. Sellers of software and buyers alike need to understand the proper income tax and sales use tax treatment of these areas. The speaker demonstrates the value of up front tax planning when making large software investments or for sellers, entering new markets in the U.S. Such planning is critical to avoiding surprise, material tax assessments and added state local expense. The tools provided will assist you in taking control of your companys state and local tax environment rather than putting in the hands of tax authorities, customers and vendors.

Learning Objectives
  • You will be able to discuss the multistate tax environment surrounding software and related services.
  • You will be able to identify the state tax treatment of specific types of software, e.g. prewritten, custom, software as a service.
  • You will be able to recognize opportunities to reduce your companys state and local tax costs as they relate to software.
  • You will be able to review you companys current income, sales andor use tax compliance practices as they relate to software.
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Software and the Multistate Tax Environment
  • Software and Computer Services - What Are We Talking About?
  • The "Big Picture": Trends in the Taxation of Software
  • What's at Stake - States vs. Businesses
Sales and Use Taxes
  • Software - a Definitional Framework and Its Sales/Use Tax Significance
  • Seller vs. Buyer Considerations
  • Nexus - Does "Quill" Still Matter?
  • Streamlined Sales and Use Tax Agreement - Impact on the Software Issue
  • Mode of Software Delivery and Situs of Software Transactions
  • Cloud Computing - a Service or Licensed Software?
  • Exemptions That May Apply e.g. Resale, Manufacturing
  • Specific States and Their Treatment of Software
  • Bundled or Mixed Service Transactions - Where Does the Internet Fit In?
Income and Business Enterprise Taxes
  • Software Definitions - Income vs. Sales/Use Tax
  • Nexus - the Wild West?
  • Apportionment
  • Specific State Apportionment Rules
  • Other Business Enterprise Taxes e.g. Ohio CAT, Washinton B&O, Virginia County BPOL
Practical Issues and Planning Strategies
  • Sales Tax - Software Vendor Considerations e.g. License Agreement vs. Service Fee, Nexus Planning, Quality of Sale Data, Exemption Certificates
  • Use Tax - Buyer Considerations e.g. Documenting Software Investments, Unbundling Mixed Transactions, Proper Use of Exemption Certificates
  • Income and Franchise Taxes - Nexus Planning, Quality of Apportionment Data, Measuring Cop, Throwback - Throw out Rules and Other Issues
  • Managing Tax and Financial Risk Related to Software e.g. Asc 740 (Fin 48), Quality of Internal Controls
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Alyssa Geracie, CPA - Baker Tilly Virchow Krause, LLP, Myles Metzger, CPA - Baker Tilly Virchow Krause, LLP, Jon P. Skavlem, CPA, M.S., M.P.P.A. - Baker Tilly Virchow Krause, LLP
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This webinar is designed for accountants, CPAs, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, bookkeepers, tax preparers and attorneys.
Note: Product cover images may vary from those shown