State Tax Process Reviews

Strategies to Identify Gaps in Your Company's Multi-State Compliance Efforts

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


Conducted on Tuesday, July 20, 2010

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will explain the key success-drivers in an effective state tax process review, preparing you to better coordinate your company's next review.

Description

Corporate tax departments should periodically step back from the compliance fray and conduct a comprehensive review of their compliance processes to identify shortcomings and inefficiencies that ultimately increase their companies' tax costs and audit risks.

From a sales and use tax perspective, tax process reviews may emphasize over- and underpayments, nexus-triggering activities and miscalculated reserves. In income tax, process reviews may hone in on apportionment approaches and excess interest charges.

Whether your tax staff conducts the process review internally or uses an outside advisory firm, it is vital to plan the review with realistic resources, yield actionable reforms and follow through quickly. Lessons and guidance from tax advisors can help successfully shape and execute the review.

Listen as our panel of veteran tax consultants explains the critical steps in planning, administering and executing a state tax process review that produces meaningful results.

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Outline

  1. State tax process reviews — Goals
    1. Sales and use tax exposures
      1. Tax over- and underpayments
      2. Errors in filings
      3. Problematic storage of exemption certificates
      4. Over- or under-reserving
      5. Misuse of tax personnel
      6. Other exposures
    2. Corporate income tax exposures
      1. Mistakes in income apportionment
      2. Missed opportunities to ship income to low-tax states
      3. Non-strategic use of intangibles, forcing addbacks
      4. Other exposures
    3. Other state or local taxes
  2. Advance planning for tax process reviews
  3. Ongoing management tactics during tax process reviews
  4. Follow-up on tax process reviews

Benefits

The panel will review these and other key questions:

  • Uncovering potential weaknesses in sales tax compliance: Mispayments, inaccurate filings, management of exemption certificates, underreserving, misuse of personnel, etc.
  • Uncovering potential weaknesses in income tax compliance: Unplanned apportionment, mistakes with addbacks, missed opportunities with low-tax states, etc.
  • Planning the tax process review: Setting aggressive but realistic boundaries, given available resources.
  • Executing the tax process review: Keeping the examination on-track and on-schedule.

Faculty

Gary Bingel
Gary Bingel
Director, State and Local Tax
Amper Politziner & Mattia

He has more than 15 years of experience in state and local income and sales and use tax consulting, particularly in...  |  Read More

John Fiore
John Fiore
Director of Tax Technology
Ryan

In his position, he specializes in providing tax process and technology redesign services and helping corporate tax...  |  Read More

Paul Ditton
Paul Ditton
Tax Consultant
Vertex

He has more than 25 years of experience in the income and sales and use tax arenas.

 |  Read More

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