Artificial Intelligence Uses for Sales Tax
The world of taxation is evolving rapidly, and artificial intelligence (AI) is playing a significant role in this transformation. AI is poised to make a substantial impact in the sales tax field. AI is affecting the way sales tax is collected, managed, and enforced, which will have practical implications for the future of businesses operating in the U.S. in this session, we will dive into the tools available, processes where AI is the most helpful, confidentiality with AI, and ethics related to use of AI. We’ll talk about how to use AI effectively to free up time to tackle all the new challenges that pop up.
New and Old Ways to Tax Digital Products
How states (and localities!) apply tax to the digital realm is in constant flux. It’s critical to understand how states define different technologies for tax purposes and stay on top of new legislation that impacts this category. This session will dig into the tax implications for an array of technologies including software, SaaS, digital goods, bots, artificial intelligence, streaming content, cloud computing, digital advertising, and cryptocurrency. Learn how to navigate tricky areas such as information services vs data access, taxation of bundle services, and sourcing including software user allocation, so you are prepared no matter if you are on the buyer or seller side of tech transactions.
Local taxes and registrations – Home Rule, State Administered and Business Licenses
Home rule jurisdictions are notorious for causing headaches for businesses trying to comply with their rules. They can have their own procedures and often have different exemptions, nexus rules, tax bases, and required forms than those at the state level. But there are also challenges in complying with state administered local taxes (Are you listening Colorado and Missouri?!). In this session, you’ll learn about the nuances of these local taxes as well as those pesky fees that might be disguised as taxes. Which of these could apply to your business – amusement tax, meals tax, bag fees, hazard fees, retail delivery fees and more! And we can’t forget about local business licenses! Learn what’s happening locally with differences between tangible and digital products as well services. This session will help you mitigate the local tax headaches by equipping you with the knowledge you may be missing about these pesky authorities so you can stay compliant.
Potpourri Roundtables
We’ll take your input to create interactive discussion sessions addressing the top sales tax topics that attendees are asking for. Get answers to your most pressing sales tax questions! Once you register, watch for an email to submit the sales tax issues at the top of your mind. We’ll take these submissions and craft a discussion touching on the hot topics of the attendees. |
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Exemption Management – Resale, Exempt Entity, Exempt Use
Exemptions are one of the most “amusing” parts of sales tax! Once you determine the exemptions that you’re eligible for, you must understand how to document these exemptions and what are the correct certificates to issue. The challenge is that depending on the type of product or service you sell, it can be difficult to determine whether your inputs qualify for an exemption. This session will cover the types of situations and purchases for which you can claim an exemption. We’ll dive into deciphering what qualifies for a resale exemption, handling exempt entities and unusual exempt uses including when a “flow-through” exemption can be claimed by someone other than the exempt entity. Learn about best practices for issuing and requesting exemption certificates and exemption process management so you are more confident in managing exemptions that apply to your business activities as both a buyer and a seller.
Manufacturing Exemptions – What’s New and What’s Not
If you work in manufacturing or with manufacturers, there are many sales tax exemptions, incentives, and special rules that can apply. Keeping up to date with how the states define manufacturing terms for exemption purposes could potentially identify tremendous savings for your company. There are gems to be found! In this session, we will explore the most important points, including software–related issues for manufacturing equipment, what to look out for when there are changes in usage by the manufacturer, and handling withdrawals of inventory and goods movement. We’ll also dig into some of the nuances in how states define who can qualify as a manufacturer as well as what processes are covered by these exemptions.
Tax Credits/Refunds/Adjustments – How to File and Use
Bad debts, product returns, customer accommodation, pricing adjustments, tax only refunds… What do all of these items have in common? They lead you to tax confusion! It’s a must that you are able to differentiate what is a credit, refund, or adjustment. In this session, we will cover how to report and claim these on sales tax returns. Then we’ll jump into risk and logistic issues such as credit carryovers, how to minimize credits being disallowed, variations in returns, who is eligible for bad debt deductions and the rest. Learn about technology options and best processes to help you and your company avoid risk in this tricky area!
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