May 31, 2023
Are you subject to the new rules for charging and paying state sales taxes and unsure whether you’re up-to-speed? If complex sales tax regulations leave you scratching your head, you’re not alone. As of 2023, there are over 12,000 state and local tax jurisdictions, each with their own set of regulations that can change quickly. The nuanced and easily misunderstood nature of sales tax laws means that many organizations are operating inefficiently while others risk financial or legal repercussions. Which states’ laws apply to you? Are your sales subject to tax even though your purchases are exempt? What electronic services and products are now taxed?
Join state tax specialist Karen Syrylo, CPA, and GRF tax partner Dick Locastro, CPA, JD for a deep dive into sales/use tax issues and practical solutions for implementation. The session will examine key parameters to ensure sales tax compliance, risk mitigation strategies, and a general understanding of economic nexus laws surrounding the collection of sales tax.
Key takeaways:
- U.S. Supreme Court’s Wayfair ruling and its impact on which states’ laws you need to consider
- Sales tax on sales by nonprofit organizations versus exemptions for purchases
- Ever-expanding sales taxes on digital products
- Practical tips for assessing possible sales tax risk
- Ideas on implementing the right compliance procedures