Proactive Steps to Secure Vital Documentation, Ensure Compliance and Avoid Penalties
CD of Teleconference with Q&A
Click here for program outline
Conducted on Thursday, November 13, 2008
Now available on CD
Sponsored by State Income Tax Monitor,
Tax Incentives Alert and Sales & Use Tax Monitor
Tax Teleconference Advisory Board
How can corporate tax departments ensure full or even sufficient compliance with states on use tax? Unexpected use tax charges can arise in audits when vendor documents don't indicate payment of sales tax or where equipment is purchased in a low sales tax state and transferred across state lines.
While software is a necessary tool, your tax staff plays the most crucial role in identifying transactions subject to use tax, calculating tax due, and creating an accountable use tax accrual. They’ll need to properly train purchasing staff and help defend exemption decisions in audits.
Judgment calls by you and your tax staff are integral to effective use tax compliance.
Listen as a panel of your peers — veteran corporate sales and use tax leaders and savvy consultants — shares approaches and advice on important issues for use tax compliance.
The panel included:
Wayne McDonald, Excise Tax Manager, ExxonMobil Co., Houston. For the last four years, he has been responsible for reporting of all sales and use, gross receipts, motor fuel excise and environmental taxes and fees in the U.S. His department oversees reporting of more than $123 million a year of state use tax.
Brent Fryar, Director of Audits and Use Tax Policy, Wal-Mart Stores Inc., Bentonville, Ark. He has worked in corporate tax for nine years and has previously presented to the Restaurant Industry Sales Tax Professionals organization on audit topics. He has worked with the company for more than nine years in a variety of tax, general accounting and finance roles.
Kevin Head, VP of Tax, Menasha Corp., Neenah, Wis. He’s been a corporate tax director for 20 years and had seven years of tax experience prior to that, specializing in sales and use tax, federal and state income tax, and mergers and acquisitions.
The panel prepared you to review your company’s own processes and systems and make improvements in:
- Training staff (in tax and other departments) on proper procedures for use tax compliance.
- Processing invoices and exemption certificates.
- Identifying and correcting potential red flags in purchase documents — before an audit.
- Selecting and operating compliance software to fit your business' needs.
- Calculating the correct amount of use tax due for each period.
TELECONFERENCE CD
Purchase a CD-ROM of the full conference proceedings, including Q&A and PDF files of all handouts (available 10 days after the program).
- Regular Price - $247 (plus $9.45 S&H)
- With Teleconference Registration – an additional $75 (plus $9.45 S&H)
Self-study CPE is not offered on CD purchases.
Click here for program outline