With more than 7,500 different sales and use tax rates in the United States, compliance can be a significant administrative burden on many companies. In fact, many companies may overpay sales tax without even realizing it. As a result of South Dakota v. Wayfair, Inc., all states that have a sales tax have now enacted economic nexus laws. Even the most sophisticated companies can make errors in their sales and use tax processes.
During this presentation, you will gain in-depth knowledge on a reverse sales and use tax audit from Leyton’s tax attorney, Sunday Vanderver. You will discover what industries can take advantage of this, learn the common exemptions, and learn how to determine if your clients will have a financial benefit from a reverse sales and use tax audit.
What is a Reverse Sales and Use Tax Audit?
A reverse sales and use tax audit (RSUTA) involves reviewing previous years of a company’s purchasing data in order to identify purchases where the vendor charged the incorrect sales tax amount or where the purchaser over-accrued use tax.
Learning Objectives:
Leyton
SALT Practice Group Leader
[email protected]
(617) 765-0676
Sunday serves as the U.S. State and Local Services Group leader, helping clients make sure they are properly addressing all state tax issues. She is an attorney, and received her JD from the University of Alabama School of Law and her LLM in Taxation from Georgetown University. Sunday has more than 15 years of experience advising clients on income/franchise, sales & use tax, employment tax, and unclaimed property matters. Prior to joining Leyton, she worked in the SALT groups at a major law firm and a Big 4 accounting firm. Sunday lives in the Boston metro area, having recently relocated from New York City to grow the SALT practice at Leyton.
TriNet
Senior Manager | CPA Alliance
[email protected]
(312) 550-5891
John has over 25 years’ experience in Payroll, Human Resourcesand PEO’s services working with small and medium size businesses to increase operational efficiency, improve cash flow and develop data-sharing systems to automate processes. He currently leads a team dedicated to partnering with accounting firms to help build their relationship with their clients.
Leyton
Head of Strategic Development
[email protected]
Maggie brings 10 years of experience in creating successful strategic partnerships. With a degree in business administration and the natural ability to connect she is responsible for creating mutually beneficial alliances for the R&D Tax Credit. Her expertise is varied amongst the construction, technology, dental, engineering, and software industry.