Sales and Use Tax Audits

CEUs Awarded: 0.1

This course is designed to provide the basic information needed to prepare a company to properly file and maintain sales tax exemption certificates and to prepare to successfully defend against any state sales tax audits.

This class, delivered over the course of 60 minutes, is taught by Silvia Aguirre, Sr Principal at Tax Technology Services, LLC, a company that helps businesses comply with state sales and use tax regulations. Silvia also has extensive prior experience as a state sales tax regulator so she knows the subject both from the perspective of the auditor and company being audited.

If your company sells products or services to other companies, chances are no sales taxes are required to be charged on those sales. However, it is important to have the proper sales tax exemption certificates maintained and filed for those sales or your company could be subject to negative state audit findings and even fines and penalty charges.

This course covers the following:

• Session 1 – Nexus & Certificate Regulation: This session explains the all-important issue of Nexus, which determines if a company must charge sales or use taxes on specific sales. It will help you identify the issue of Nexus within your company. It also describes just what an Exemption Certificate is and why it is necessary.
• Session 2 – Managing Exemption Certificates: In this session the different types of exemption certificates are explained. You’ll learn how to conduct exemption certificate compliance within your company and how to properly manage those certificates. Different software options for automating the exemption certificate management process are described. You also learn how to develop a sound exemption certificate policy within your company and understand the exemption certificate life cycle.
• Session 3 – Audit management: In this session you’ll learn what to expect from a state sales tax audit. You’ll also learn about common errors on sales tax exemption certificates so you can avoid them and be you’ll be taken through an example of a sales tax audit.

This is an On-Demand Course, allowing students to work independently and at their own pace to accommodate the time demands of busy professionals. Upon concluding the presentation/course material, the participant is required to take a final exam. Those who receive a grade of 70% or higher will receive an electronic “Certificate of Professional Development” from the Credit Research Foundation.