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Provided by: Lorman Education Services The Streamlined Sales Tax Project - How and Why It Affects Your Business |
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Training
Provided by Lorman Education Services
nThe Streamlined Sales Tax Project is an effort by state representatives to implement a national uniform, simplified system of sales and use tax compliance. After more than five years of their efforts, the Simplified Sales and Use Tax Agreement came into effect on October 1, 2005. The SSTP now includes 19 full member states and three associate member states. Although initially taking effect as a voluntary program for taxpayer participation, legislation has been introduced in Congress to make it mandatory. If the SSTP becomes mandatory, it would effectively eliminate the physical presence standard established in Quill. Therefore, under an economic nexus standard, taxpayers would be required to collect sales tax on all sales, regardless of whether they are physically present in a state. This could lead to a substantial confusion for taxpayers and tax jurisdictions. The SSTP represents the most comprehensive attempt at broad-based reform of the sales tax system since taxes were first enacted. You will have the opportunity to ask multistate tax questions.
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The Streamlined Sales Tax Project - How and Why It Affects Your Business
Agenda
- Uniform Definitions
- Rate Simplification
- State-Level Tax
- Uniform Sourcing Rules
- Simplified Exemption Administration
- How Can the SSTP Impact My Business?
- Does the SSTP Have an Impact on Income or Franchise Taxes?
- Nexus Requirements for Sales and Use Tax vs. Nexus Requirements for Income and Franchise Tax
About The Training Provider: Lorman Education Services
Lorman Education Services - Lorman Education is dedicated to providing cost-effective training opportunities that meet the needs of our members and enhance their skills, knowledge, and competencies.
Please use Priority Code 16175 when registering.
Lorman Education Services began offering continuing education seminars in 1987.
Lorman Education is dedicated to providing cost-effective training opportunities that...
