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Live Webinar

100-minute live streaming program
  • June 15
  • 1:00 - 2:40 pm EST

Also available as:

OnDemand Course

Use Tax - The Hidden Dangers and Expanding Nexus

June 15

Learn more about the pitfalls in sales and use tax compliance and obtain the tools needed to minimize sales and use tax exposure.

Identifying and mitigating use tax exposure requires an understanding of sales and use tax laws and a critical evaluation of purchase and sales invoices and other business records for hidden dangers. Use tax compliance requires meticulous maintenance of documentary evidence of a transaction and guides the proper application of tax. Evaluation and retention of invoices, contracts, and accrual workpapers is essential for ongoing, accurate compliance. Hidden dangers lurking in seemingly innocuous invoices can cost companies significant liabilities under audit. Examining shipping terms, defined shipping points, the nature and description of services performed, transaction sourcing, nexus implications for proper tax application, statements of tax, and the rates of tax charged is essential. Of equal importance is ensuring that the invoices and other documents setting forth the form of the transaction accurately reflects the substance of the transaction, or the agreement between the parties. Gain a greater understanding of sales and use tax compliance pitfalls and gain the tools to put this knowledge to work in minimizing your businesses’ and clients’ sales and use tax exposure.

Learning Objectives

  • You will be able to define nexus and understand the difference between physical presence and economic nexus.
  • You will be able to describe how a multistate use exemption certificate can be used to shift the tax burden.
  • You will be able to discuss the difference between an exemption and exclusion from tax.
  • You will be able to explain how the sales and use taxes compliment each other.

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Why Lorman?

Over 34 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

Sales and Use Tax
  • How Do They Fit Together?
  • What Impact Does Expanding Economic Nexus Have on Use Tax Obligations?
  • How Do Agreements Between the Various State Taxing Authorities Impact Use Tax Obligations?
Invoicing Pitfalls
  • Shipping Address vs. Billing Address
  • Shipping Terms
  • Bulk Pricing
  • Freight and Installation
Sourcing Transactions
  • Goods vs. Services
  • Use Tax Accruals
  • Direct Payment Permits
Documenting Exemptions
  • Exemptions vs. Exclusions
  • Types of Exemptions
  • Multistate Use and Burden Shifting
Audit Preparation
  • Taxability Research
  • Voluntary Disclosures
  • Managing Multistate Audit Issues
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More Program Information

Why Lorman?

Over 34 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 November 14, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CAPP/CAPA
     
  • This is an IAPP qualifying continuing education activity.
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a 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: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure 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. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for accountants, CFOs, controllers, accounts payable professionals, tax managers, presidents, vice presidents, bookkeepers, and tax preparers.

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Why Lorman?

Over 34 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

Christina A. Mondrik, Esq., CPA

Christina A. Mondrik, Esq., CPA

Mondrik & Associates

  • Founder of Mondrik & Associates, www.mondriklaw.com
  • Board certified, tax law, Texas Board of Legal Specialization
  • Represents taxpayers in resolving state and federal tax controversies and litigation
  • 2019 - 2020 chair, tax section, State Bar of Texas
  • J.D. degree, with honors, University of Texas School of Law; B.B.A. degree, accounting, University of Texas
  • Can be contacted at 512-542-9300 or [email protected]
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More Program Information

Why Lorman?

Over 34 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
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  • White Papers and Articles
  • Sponsored Live Webinars

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  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408773
Published 2018, 2021
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