Online sales tax and economic nexus is the reality for all companies post-Wayfair
In 2018, the U.S. Supreme Court decision in the South Dakota v. Wayfair case changed sales tax obligations for companies everywhere. The short of it is that a business can be on the hook to pay sales tax in a state, even if they do not have physical presence there.
With the rise of e-commerce, most companies will need to collect and remit sales tax in many more states than ever before…
Businesses need to quickly obtain the skills, knowledge, and processes required to properly handle new sales tax requirements or risk falling out of compliance. Failing to do so is risky. Penalties, interest, and back-taxes are not something you want to encounter in a surprise audit. These fines can sometimes be so significant that they can cause major financial damage and jeopardize the stability of a company – so you must pay attention.
This new reality means that professionals with a clear understanding of sales tax are immensely valuable.
As a person responsible for making sure your company is sales tax compliant, you now have a lot more to manage for a lot more states.
Unfortunately, the states don’t make it easy. Each one has its own unique challenges and make it your responsibility to figure everything out. If you don’t, you could be facing an audit and get assessed huge fines.
Managing multi-state sales tax is far more than just paying tax. You also have to:
- Know when and how to register as a seller in each state.
- Determine the taxability of your goods and services in every state that applies.
- Understand exemptions that may apply to you so that you can take advantage of cost savings for your company and customers.
- Maintain accurate records for the states so if and when an audit notice arises, you are ready.
- Juggle drop shipments and understand their impact on sales tax.
- Research issues and questions that inevitably come up in sales tax.
- Implement or maintain an automation system (and make sure it is set up correctly!)
That’s a lot of ground to cover, but you don’t have to do it alone.
“It was very approachable. You can ask the questions, and Diane was always willing to answer. She was very real. It wasn’t just material to read and “good luck!” [Diane] really did want you to know and would give all the effort to explain and be there for you.”
MICHELE SCHOPPE, KEI MEDICAL IMAGING SERVICES | FALL 2021 GRADUATE
Sales Tax Jumpstart is different than other training programs because it will guide you over the course of 9 weeks on the practical application of sales tax concepts to your business. You’ll learn fundamental sales and use tax concepts each week and be given assignments to implement what you learned to your business before the next session starts.
The course will completely demystify this sales tax stuff that you have to understand. If you have no experience with multi-state sales tax, you’ll be able to confidently handle all of these requirements when you’re done. If you have some experience, it’ll really hone your skills, improve your accuracy, and allow you to make more strategic sales tax recommendations as your company needs to scale its efforts.
Everyone will also learn how to optimally manage sales tax workflow, eliminate guesswork, and reduce risk with a practical application, hands-on teaching approach.
With Sales Tax Jumpstart, you’ll learn how to:
- Know when and how to register as a seller in each state.
- Determine the taxability of your goods and services in every state that applies.
- Understand exemptions that may apply to you so that you can take advantage of cost savings for your company and customers.
- Maintain accurate records for the states so if and when an audit notice arises, you are ready.
- Juggle drop shipments and understand their impact on sales tax.
- Research issues and questions that inevitably come up in sales tax.
- Implement or maintain an automation system (and make sure it is set up correctly!)
That’s a lot of ground to cover, but you won’t do it alone.
About the Instructor
Diane L. Yetter, President & Founder, YETTER and Sales Tax Institute
Diane L. Yetter is the “Sales Tax Nerd TM” as well as a strategist, advisor, speaker and author in the field of sales and use tax. She is president and founder of YETTER Tax, a sales tax consulting and tax technology firm in business since 1996. She is also the founder of The Sales Tax Institute, which offers live and online courses to educate business professionals about sales and use tax.
More About Diane L. YetterSales Tax Jumpstart is a 9-week online course that meets once a week for interactive, live classes with Diane Yetter, Founder of Sales Tax Institute.
Students will learn about foundational sales and use tax issues needed to comply with light of South Dakota v. Wayfair. Participants will have self-study between the streamed classes to apply what they learned to their business.
The Course Is:
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INTERACTIVE: We won’t just talk at you. You will meet once a week for 9 weeks in classes that are interactive with discussion based around the critical things you have to know about sales tax. |
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CONVENIENT: All of the sessions will meet online so you can attend easily and conveniently from the office or home. |
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PRACTICAL: Non-class practical application assignments are built into the program so that you can actually put what you’re learning into practice during the course. |
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FLEXIBLE: If you have to miss a session you can easily catch-up on the recording before the next class (just without the ability to participate and earn CPE for the session). |
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COMMUNITY-BASED: You’ll get to know your course mates and develop a network of sales tax people to turn to long after the course is over for inevitable questions that come up.
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ACCOUNTABILITY-DRIVEN: Diane Yetter, the industry’s leading sales tax consultant, will personally help you every step of the way. You aren’t reading and watching a bunch of stuff on your own wondering what it means and what to do next. We help you develop ways to actually implement what you learn so that your sales tax work is completely transformed. |
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CPE-BEARING: You’ll be able to earn up to 21 CPE credits for attending the entire course as prescribed. |
PLUS participants will receive extra bonuses during the course of 9 weeks.
- Complete set of Sales Tax Institute tools and worksheets that easily save you hours of sales and use tax work, including some exclusive checklists, resources, and tools that only Jumpstart participants receive.
- TWO Bonus “Office Hours” calls with Diane Yetter where you can ask her anything related to what you’re learning, break through barriers, or get specific help to a sticky sales tax situation you’re facing.
- Access to the Sales Tax Nerd Community where you can post questions to Diane and the other sales tax professionals.
- Digital Goodie Bag containing special offers from us and our sponsors.
- Maximize your training if you get stuck on a concept or need a little extra explanation with a complimentary 30-minute Help Session with one of our sales tax experts.
- Apply your training to your specific business with a one-on-one consultation with Diane at HALF-OFF the regular consultation rate.
- Sales Tax Jumpstart Certificate of Completion that will show your unique expertise in the field.
Compliance Foundations:
Lay the groundwork for the course by getting clear on sales and use tax basics that are critical for compliance and understanding tax jargon.
Nexus & Constitutional Provisions:
Start breaking down tax law into application. Learn all about sales tax nexus to determine which states you might have tax obligations in. This session includes a deep dive into the South Dakota v. Wayfair decision and how economic nexus affects your business.
Registration & Streamlined Sales Tax:
Learn the best ways to manage state-by-state registration and how to leverage the Streamlined Sales Tax Project in your work.
Exemptions & Drop Shipments:
Learn if you qualify for cost-saving exemptions and how to navigate tricky drop shipment transactions, including the responsibility of each part in the transition and documentation required.
Efficient Tax Research & Consumers Use Tax:
This week we’ll cover research shortcuts that will save you time and help you maintain compliance as well as use tax, the complement to sales tax, and situations where you may owe it.
Industry Self-Study Week:
Sales tax can alter greatly across industries. For week six, you’ll be able to choose from a buffet of videos about 10 major industries and their tax challenges. This week is self-paced and does not meet for the regular streamed class. You can learn about as many industries as you’d like!
Compliance Deep-Dive:
Take things to the next level as we go into the nitty gritty of compliance, including sales tax return preparation and filing.
Automation Solutions:
Lean how to automate your tax obligations without worry. This class will show you how to save time and how to avoid common automation errors that can make your work a huge liability. You’ll learn how to have automation help, rather than hurt, you.
Audit Defense & Processes:
Sales tax audits are almost inevitable for a business. We’ll take you through tried and true audit processes to allow you to take control of future audits so they go as favorably as possible. We’ll also talk through a Sales Tax Process Plan so you can take all your new knowledge and put it right to work!
Need Help Getting Approval?
Use our copy & paste approval letter template to ask your supervisor for approval.
Who is the course best for?
This course is designed for those working in finance and accounting for small and mid-sized businesses with limited or no sales tax experience.
It is especially designed for those who may have new sales tax obligations due to the Wayfair ruling and are looking for ways to manage all of the new requirements. Online retailers will especially benefit.
Those who advise small and mid-sized clients on sales tax obligations would also benefit.
It is not recommended for those with extensive sales and use tax experience. If you aren’t sure, please ask!
What is the format of the course?
This is an online course that is 9 weeks long that meets once-a-week on Wednesdays. You’ll meet online with Diane Yetter and your fellow classmates for the week’s new material. In between sessions you’ll have an assignment that will help you implement what you learned.
You also get two bonus office hour calls with Diane during the course of 9 weeks. These calls are open-ended and a good chance for you to ask specific questions you might have.
There is an industry week in the middle of the class that breaks from the usual streaming format to evaluate differences of sales tax across industries. This week you’ll have access to short videos on each major industry that you can watch as your interests determine.
Are the classes pre-recorded?
No, this is not a self-guided pre-recorded course where you’re left wondering what is next. Though there may be some recorded elements at different times throughout for self-study, 95% of the material is taught with live streaming where you can ask questions and take part in discussions. Think about it like taking an interactive online course at a university.
What if I have to miss a class?
This is not a problem at all, though we do suggest that you keep absences to a minimum. We will record every class session and have it available only to participants in the program for the duration of the 9 week class. We recommend you watch the class before the next session as each class will build upon the lessons from the week prior. You will not be able to get CPE credit for recorded sessions.
Will I get any proof that I completed this program?
Yes! You will receive a certificate of completion at the end of the course that you can include on your resume, LinkedIn profile, and display at work to communicate your sales and use tax skills. We have seen so many of our students leverage great career opportunities from their sales and use tax expertise and want you to be one of them!
What about CPE?
Those who successfully complete the course as intended can be eligible to earn up to 21 CPE credits. Please read more for additional Information about CPE. You will receive your total CPE credit at the end of the course.
I read or was told that I didn’t have to worry about Wayfair. They said the ruling was for big businesses and I should just wait for the states to tell me what to do.
Unfortunately, some ill-informed advisors, coaches, and “online experts” tell businesses that they don’t have to worry about sales tax unless they are a big fish. They give this incorrect advice because they don’t fully understand taxability and what is at stake.
To be blunt, no business or corporate financial advisor paying attention would say this. Here’s why:
Choosing to ignore the provisions, relying on the state to communicate what you need to do, or assuming you’re too small to matter is incredibly risky. Sales tax simply doesn’t work this way.
First, if you wait for the state to reach out to tell you what to do, you’ll be waiting a long time. States usually do not proactively make their requirements clear to a business. They just show up with an audit notice. States are under no obligation to send you information when you need to start remitting sales tax. That responsibility is on you as the business.
Second, this law is designed for small and mid-sized businesses. Large companies that have had nexus across the country for years are already paying taxes and are wise to what is needed. States will certainly be actively targeting small and mid-sized companies that fit the provisions. They can find you pretty easily, so don’t assume you’re flying under-the-radar.
Third, not knowing you needed to pay sales tax or misunderstanding a law is no excuse when the audit happens! We’ve seen too many businesses assume they were fine and are suddenly on-the-hook for tens of thousands, sometimes hundreds of thousands in sales tax. Can your business afford this surprise expense? Where do you think your “don’t worry about sales tax” advisor will be then?
We don’t say this to scare you, we say it because it is true. We’ve seen businesses have to close because the costs of not paying sales tax were so high. They contact us far too late in the process when their options were few. We don’t want it this to happen to anyone!!!
Compliance at the get-go is really the safest and most cost-effective answer.
Do you have a cancellation policy?
Please read our cancellation and complaint policy here.