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Course Level :Basic
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Credits :1
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Instructional Method :Group Internet Based
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Pre-requisites :None
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Advance Preparation :None
Sales tax is a type of gross receipts tax imposed by most states on the sale of “tangible personal property” (such as computers, chairs, car parts, furniture, etc.) and certain services (such as information services, software services, etc.). Every state has a different set of rules that controls what types of items and services are taxed. Also, every state has different types of exemptions and exclusions from sales tax that favor some businesses and can be costly to others.
Over 40% of the annual state budget is funded by sales tax. They know they are not receiving all the tax dollars they are owed.
Most business owners are unaware that if they are not required to collect sales tax, proper exemption paperwork from their customers should still be obtained. Also, most business owners are completely unaware of USE TAX being due on their nontaxable sales.
To prevent out-of-state sellers from having a competitive advantage over in-state sellers, all states (that have a sales tax) impose a “use tax” on in-state purchasers. Thus use tax requires all purchasers (individuals and businesses) to pay use tax on any item normally subject to sales tax unless the applicable sales tax has already been paid.
This online CPE webinar for CPAs and Tax Professionals covered the following key topics:
Click for more webinars on | Sales & Use Tax | IRS Audit, Representation, and Resolutions |
This IRS-Approved CE course on sales tax is recommended for CPAs, EAs, AFSPs, Business Owners, Tax Professionals, and Other Professionals or Staff Member Involved in the preparation or review of Sales Tax & Use Tax Returns.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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 website: www.NASBARegistry.org.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Accounting Manager, Sales Tax Defense LLC
Mark L. Stone is the Managing Partner of Sales Tax Defense LLC. He founded the firm in 2008. The firm specializes in Sales, Use and Transaction Taxes. Services include sales and use tax consulting, audit defense, settlement negotiation, and preparing and filing sales tax returns in multiple states. He represents companies and individuals before state taxing authorities and through the appeals process. Mark has testified as an expert witness in sales and use tax court cases as well as assisted attorneys and other accountants in their representation of clients in criminal investigations.
Mark began his career as a sales tax auditor for the New York State Department of Taxation and Finance. After gaining experience working for the State, he moved on to work at several prominent accounting firms such as Raich Ende Malter LLP and The Marcum Group LLP. In 2008, he decided to open his own firm solely focusing on sales and use tax. During this time, he was also an adjunct graduate school professor at Long Island University C.W. Post Campus.
Mark has written articles in several publications such as Long Island Business News, New York State Society of CPAs Nassau Chapter Newsletter, Daily News, and Long Island Pulse Magazine.
He is a frequent speaker for different organizations and has spoken for the New York State Society of CPAs, the Nassau County Bar Association, the Suffolk County Bar Association, as well as for various accounting firms and businesses.
Sales Tax Defense LLC is a boutique tax-consulting firm that only provides sales, use, and transaction tax advice. We are a dedicated team committed to helping accountants, attorneys, fellow professionals, businesses, and their clients understand and comply with the sales and use tax laws. When there is a sales tax problem, we work to quickly and cost effectively resolve the sales and use tax issue, and then provide guidance to help avoid similar problems in the future. When we are engaged or referred by a fellow professional, we respect the relationship that they have with their client. We work only to resolve the sales tax issue and return the client to that professional with an enhanced sense of confidence in them.
677 Ratings
NW
Apr 3rd, 2021
I needed a refresher on Sales Tax as I'm helping Nonprofits get their paperwork setup and their organization going. I've had questions on Sales Tax and have not dealt with it much since college. This actually answered every question I had except for my state specific taxable items. It is exactly what I needed!
CT
Nov 1st, 2021
This was an outstanding webinar. It was extremely well-prepared and very thorough. It was effectively presented and very easy to understand with simple examples. Mark is a very effective speaker.
DS
Mar 4th, 2021
I have been working for tax-exempt agencies over 10 years and the State ruled 2021 Airports were no longer exempt. This was a good refresher on the general rules.
LB
Oct 1st, 2021
This was one of the more relevant trainings I have listened to. It was informational and not a sales pitch to use their services or software.
EA
Jun 5th, 2021
I thought the content was just the right level of information - a nice overview and introduction to a relatively complex matter.
1 Credit
Subject Area
Aug 12, 2022 | 11:00 AM EDT
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