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Video

  • 12 minutes

Classifying Your Products and Services for Sales Tax: An Overview

 

Learn how Wayfair changed sales and use tax.

The taxability of your products and services means nothing if you don't have nexus. Two years ago you didn't have nexus unless you visited another state due to the physical presence test which had been in place for over 25 years. Then the Supreme Court of the United States ruled that an out-of-state retailer with no physical presence in the state could be subjected to that state’s sales and use tax laws under an economic nexus standard. This video reviews how the Wayfair case changed the nexus standard and discusses the importance of understanding your products and services to determine taxability.

Runtime: 12 minutes
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Agenda

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Faculty

Daniel Thompson, CPA, CMI

Daniel Thompson, CPA, CMI

Thompson Tax & Associates, LLC

  • President of Thompson Tax & Associates, LLC and founded the company in 2002
  • 40 years of sales/use tax experience in both government and public accounting
  • Adjunct professor lectures on taxation at Golden Gate University’s State and Local Tax Program
  • Member of the American Institute of CPAs, the California Society of CPAs, and the Institute for Professionals in Taxation (IPT)
  • Served as chairman of the California Society of CPAs Sales and Use Tax Symposium
  • Founding member of the Independent SALT Alliance (ISA)
  • B.S. degree in accounting, California State University, Long Beach
  • Can be contacted at [email protected]
Adam Giera, CMI

Adam Giera, CMI

Thompson 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
  • Can be contacted at [email protected]
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