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Nexus Reviews: Uncovering State Sales or Income Tax Obligations

Designing an Effective Internal Process to Identify Potential Tax Exposures

Recording of a 110-minute CPE webinar/teleconference with Q&A

Conducted on Thursday, January 28, 2010
Recorded event now available

This CPE webinar will provide insights for representatives of corporate tax departments to effectively integrate a sound state tax nexus review into their management plans.

Description

More than ever before, states are expanding their interpretations of formerly routine company activities to subject companies to sales or corporate income taxes. A recurring and comprehensive nexus review is no longer a nicety for multi-state corporations. It is now an essential management practice.

Nexus reviews do not have to be farmed out to accounting or law firms for a hefty fee. However, they do need to be thorough and well-planned. Getting reliable help and information from non-tax groups, like purchasing, is both essential and challenging.

A strategic nexus review starts with a well-designed questionnaire, brings in other departments on an ongoing basis, and finishes with action items on the findings. Done well, the review will identify any physical presence triggering sales tax or activities leading to corporate income tax.

Listen as our panel of advisors, all experienced with nexus reviews, offers you best practices and planning steps to efficiently execute your nexus evaluation.

Outline

Review of current nexus trends
1. Sales and use tax
  1. Physical presence standards
  2. Evolving areas such as “Amazon tax” and online marketing activities
2. Corporate income tax
  1. Core business activity standards
  2. Evolving areas such as agency and warranty provider nexus
Designing a nexus questionnaire
1. Establishing the frequency with which it is circulated
2. Core questions
Identifying company staff and departments to receive questionnaire
Achieving buy-in from non-tax staffs
Interpreting results and implementing an action plan

Benefits

The panel will offer you action-oriented guidance at each step of developing and executing a nexus review:

Deciding whether to do the review in-house or with a consulting firm: Pros and cons with each option.
Designing the nexus questionnaire: Posing clear and insightful questions and balancing your need to know against impossible data demands.
Evaluating who should get the questionnaire: Figuring out which departments and staff can yield useful information.
Getting buy-in from other departments: Making a persuasive pitch to put your review at the top of their to-do list.
Taking action: Interpreting the results of the nexus review and making sound choices about how to react.

Faculty

Rob Mandel, Partner
BKD, Kansas City, Mo.

He has more than 20 years of experience in accounting and taxation, with an emphasis in state taxes and income, sales and use, and property tax incentives. He also serves as Director of the firm's Incentives Group.

Carla Yrjanson, Vice President of Tax Services
Sabrix Inc., Lake Oswego, Ore.

She has more than 15 years of experience in sales and use tax and leads a tax research team that delivers sales and use tax and VAT rates and rules within Sabrix. She also leads firm teams that work with managed tax service clients to configure tax policies and prepare returns.

Joseph Geiger, Senior Tax Consultant
Vertex Inc., Berwyn, Pa.

He works with the company's Tax Process Consulting Group and has more than 25 years of experience with income, sales and use and other taxes, with particular expertise in tax appeals, audit controversies and reverse audits. He also has worked in tax compliance for corporations and for public accounting firms.

Gary Bingel, Director, State and Local Tax
Amper Politziner & Mattia, Bridgewater, N.J.

He has more than 15 years of experience in state and local income and sales and use tax consulting, particularly in the manufacturing, retail, pharmaceutical and other business sectors. Before coming to Amper, he was a managing director in a tax advisory and consulting firm.

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