Sales and Use Tax Implications of M&A: Avoiding Costly Mistakes

Correctly Identifying Assets and Inherited Liabilities and Meeting Compliance Requirements

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


Conducted on Tuesday, November 19, 2013

Recorded event now available

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Program Materials

This webinar will provide tax professionals with an overview of the most prevalent mistakes in sales and use tax compliance related to M&A transactions. Our panel will explain and outline solutions to pitfalls such as when a transaction with an affiliate can be deemed a sale, IRC taxability factors, and transfers of liabilities.

Description

State and local tax obligations give rise to some of the most complex challenges facing a business. Tax professionals must understand the unique sales tax implications related to M&A to avoid nasty surprises and maximize tax benefits for their company post-deal.

For companies active in M&A, the sales and use tax compliance workload can grow exponentially. The size of your staff rarely meets the heavy load of compliance demands, burdening your company even further to ensure accurate and timely compliance.

In M&A transactions, sales and use tax oversight can be unnecessarily expensive. The pitfalls can trip up even experienced tax professionals: incorrect identification of assets, inherited liabilities, and failure to follow regulatory and compliance requirements associated with the deal.

Listen as our panel of sales and use tax veterans analyzes tax compliance demands and potential complications related to M&A transactions. The panel will outline best practices for minimizing tax impact and maximizing tax benefits for your company.

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Outline

  1. Overview of sales and use tax challenges related to M&A
    1. Mistakes and errors
      1. Incorrect identification of assets
      2. Inherited liabilities
      3. Failure to follow regulatory requirements
  2. Remedying mistakes
  3. Compliance solutions and best practices
  4. Practical issues

Benefits

The panel will review these and other key points:

  • Avoiding the most common sales and use tax mistakes related to M&A—and effective after-the-fact remedies.
  • Assessing the impact of tax laws at the federal and state level and evaluating the need for additional tax filings.
  • Correctly identifying assets and understanding when an affiliate transaction is considered a "sale."
  • Dealing with nexus concerns and how structuring transactions as tax free under the IRC can void some state sales and use tax exemptions.
  • Understanding relevant state casual sale exemptions or taxability that may differ from the company's home state rules.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Mark A. Loyd
Mark A. Loyd

Partner
Bingham Greenebaum Doll

Mr. Loyd is a partner of the law firm and chairs its Tax and Finance Practice Group. His practice concentrates on...  |  Read More

Myron Vansickel
Myron Vansickel
National Tax Director, Strategic Accounts
Experis

Mr. Vansickel works with clients on sales and use, income/franchise, and property tax matters in a multi-state and...  |  Read More

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