Life after Wayfair has caught many businesses off guard with the new national nexus standards that states are implementing.
This information will assist you in the determination of products and services that may be needed after you review your nexus position (economic nexus). You will be able to differentiate between general services, business and professional services, and enumerated services. This material will assist with your RFPs for taxability studies if you go outside your organization. It will also help you prepare taxability matrices for the invoicing process on a state-by-state basis, as failing to have correct tax determinations will lead to significant audit risk for both the seller and buyer. This material will also be a guide for determining the documentation necessary for your organization to move forward on the sales and use tax front.Learning Objectives
- You will be able to define how states categorize TPP, business and professional services, and enumerated services.
- You will be able to describe to your organization the taxability of TPP on a state-by-state basis.
- You will be able to identify audit issues as a result of taxability studies and invoices generated by the company.
- You will be able to discuss implementation concerns with CEOs, CFOs, IT, finance, and billing departments.
Agenda
Introduction and Why We Are Here- 2018’s Wayfair Decision Has Significantly Changed the Sales and Use Tax Story for Every Company in America
- How Each State Defines and Taxes Tangible Personal Property (TPP), in General
- How Each State Defines and Taxes Services, in General
- Life After Wayfair, What Products and Services States Will Most Likely Tax Going Forward
- Determining the Taxability for Sales Tax on Services (Digital Property, Professional vs. Personal Services)
- Now That You Determined Taxability, How Do You Implement Taxable Services and Products for Your Organization?
- How to Properly Research State Specific Categories
- How to Address Bundled Transactions Before an Audit (e.g., Gift Baskets and Delivery Services)
- Collection and Retention of Exemption and Resale Certificates
- Convergence of Construction Contracts and Real Improvements
- When Is SaaS Taxable?
Speaker
Adam Giera, CMIThompson Tax & Associates, LLC
- Vice president and Chief Information Officer, Thompson Tax & Associates, LLC
- Started with Thompson Tax in 2010
- Works with the firm’s consulting practice addressing taxability matrices, reverse audits, audit defense, M&A, due diligence, and nexus
- Co-wrote California article in ABA Tax Times
- Member of the Institute for Professionals in Taxation (IPT)
- B.A. Degree, Northern Illinois University
