Procurement Cards and Sales Tax Compliance: Mastering Multi-State Complexities

Processes for Tracking Exempt Purchases and Maintaining Audit Documentation

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


Conducted on Thursday, May 18, 2017

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will prepare corporate tax executives with the tools and practical perspectives needed to sharpen their procurement card sales tax compliance. The panel will review the most recent state developments on taxation of P-card purchases.

Description

The use of procurement cards (P-cards, or company credit cards used for small-dollar purchases of supplies and materials) continues to grow in corporate America and among government agencies and nonprofits. P-cards continue to create oversight anxiety for corporate tax professionals.

Maintaining accurate and complete support documentation for procurement card transactions and negotiating up-front sales and use tax compliance agreements with states on P-card use are critical steps to avoiding sales tax issues that arise in relation to P-cards. State sales tax auditors commonly investigate these issues in examinations of companies issuing or accepting procurement cards.

Will employees using procurement cards mistakenly pay sales tax on exempt purchases? Do they know to include a valid, completed exemption certificate with their purchases? If your organization is making the sale, are your personnel trained on taxability and exemption certificates?

As a corporate tax professional, it falls on you to ensure your company’s processes are sound and your employees are thoroughly trained when it comes to both using and accepting procurement cards to prevent any sales tax compliance hassles that you will have to clean up later.

Listen as our panel of experts on procurement cards and sales tax helps you get a handle on this challenging area.

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Outline

  1. Examples of how specific states handle P-card transactions
  2. Compliance issues and options
  3. Working with issuers of P-cards
  4. Record-keeping priorities
  5. Best practices for companies using P-cards

Benefits

The panel will provide guidance and thoroughly brief tax executives on:

  • Knowing which states charge sales tax on nearly all items commonly purchased with procurement cards, and which states tax only certain purchases such as meals and hotel rooms
  • Taking an assertive role in preparing procurement and sales staffs to use procurement cards without making sales tax mistakes
  • Improving your compliance efficiency with adjustments to your own sales tax-compliance processes, both as a purchaser and seller

Faculty

Joseph F. Geiger, Jr., Esq., CPA
Joseph F. Geiger, Jr., Esq., CPA
Consulting Tax Manager
Vertex

Mr. Geiger works with the company's Tax Process Consulting Group and has more than 25 years of experience with...  |  Read More

Frank J. Tobias, CGFM
Frank J. Tobias, CGFM

Principal, Tax Services Group
RKL

Mr. Tobias is a CGFM (Certified Government Financial Manager) and specializes in multi-state tax planning and...  |  Read More

Kevin Watson, CMI
Kevin Watson, CMI
Manager, State & Local Tax
RSM US

Mr. Watson is a CMI (Certified Member of the Institute, IPT Sales Tax) with over 10 years of SALT experience. He...  |  Read More

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$247