Stacey Roberts and Meredith Smith present state sales tax rules in a post-Wayfair era, and tax strategies and obligations in response, sponsored by Strafford.
June 23, 2022 | 11:00 – 12:50 am MT | 1:00 – 2:50 pm ET
A live 110-minute CPE webinar with interactive Q&A
Learn the latest state sales tax strategies, thresholds, and compliance obligations in response to the U.S. Supreme Court condoning a state’s right to collect tax on remote sellers in South Dakota v. Wayfair Inc. Listen as our panel of sales tax experts explains what triggers nexus, the interplay of income and sales tax, and managing sales tax audits post-Wayfair.
Description
Missouri, the last holdout state with sales tax to allow local governments to collect sales tax on online purchases, will implement new economic nexus standards in 2023. State economic nexus thresholds, or Wayfair thresholds, have been relatively static for years since extensive state legislative changes in the first year after the ruling.
Today, business taxpayers are conscious of these obligations and exceed Wayfair’s nexus thresholds in various jurisdictions. In addition to the sales tax obligations, businesses may also have physical presence nexus and other tax obligations. Remote workforces can trigger nexus, making marrying a taxpayer’s sales and income tax obligations necessary. For noncompliant taxpayers, remediation strategies should be a focus.
Sales tax is not simply a Wayfair issue, and taxpayers are often less aware of other nexus triggers. Wayfair is not just a prospective issue; clients may have arrearage issues to pursue. Even small sellers value sales tax software to tackle ongoing sales tax administration.
Overview
- South Dakota v. Wayfair Inc.: introduction
- Triggering nexus
- Specific states’ responses to Wayfair
- Marrying income and sales tax
Benefits
- What triggers sales tax nexus in specific states?
- How should businesses prepare for a sales tax audit?
- How are sales tax obligations and income tax obligations related?
- How small businesses can benefit from sales tax software
- Comparing states’ varying dollar and number of transactions thresholds
About the Presenters
Stacey Roberts, CPA, State and Local Tax Director at TaxOps
Ms. Roberts has been making SALT less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she is at the table-and in the weeds-helping guide dynamic businesses through compliance and strategic planning that minimizes risk and strengthens tax positions. She entered accounting with Andersen Worldwide/Andersen LLP, where she honed her state and local tax experience. She added stints at KPMG and Deloitte before moving in-house with a Fortune 500 company, managing State and Local Tax Administration. Before joining TaxOps, she led the national SALT practice at a regional firm. Stacey is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker and author on SALT issues for industry and professional organizations, including the Journal of State Taxation, Strafford Publishing, and more.
Meredith Smith, CPA, State and Local Tax Senior Tax Manager at TaxOps
Meredith combines technical knowledge with an in-depth industry understanding of state and local tax (SALT) issues to expertly manage the complicated web of tax laws governing SALT issues. She performs nexus studies, identifies risk areas, supports acquisition efforts on both the buy/sell sides, and designs sustainable planning opportunities to achieve tax-specific business goals.
Meredith acts as a bridge and advocate between federal and state and local tax issues and discussions, helping businesses understand how various business elements impact tax positions and long-term strategy. She values providing practical business solutions to clients and enjoys diving into the weeds to really get to know businesses.
Prior to TaxOps, she was a member of the SALT practice at KPMG. In this role, Meredith focused on state income and franchise tax compliance and consulting, as well as state ASC 740 and ASC 740-10 documentation for large, multi-jurisdictional corporations and multi-tier partnerships. Her clients spanned a variety of industries including broadcasting and telecommunications, entertainment, oil and gas, private equity, real estate, restaurants, and various service industries.
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