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Sponsored by Lorman Education
Product ID: 406671EAU
 
Credit & Course Provided by:

Streamlined Sales Tax Project: How and Why It Affects Your Business

OnDemand Webinar (88 minutes)

Join us for your compressive guide into the Streamlined Sales Tax Project and its impact on income and franchise taxes.The Streamlined Sales Tax Project (SSTP) is an effort by state representatives to implement a national uniform, simplified system of sales and use tax compliance. The Simplified Sales and Use Tax Agreement (SSUTA) is an agreement developed through the Streamlined Sales Tax Project. After more than five years of their efforts, the SSTUA came into effect on October 1, 2005. Currently, there are 23 full member states and one associate member state. The overall benefit of doing business in a SSTUA member state is reduced tax compliance costs because member states use the same product definitions, sourcing rules and methods to determine tax rates. On June 21, 2018, the Supreme Court of the United States ruled in favor of the state in South Dakota v. Wayfair, Inc. overturning the 1992 Quill Corp. v. North Dakota Court Case. This decision allowed states to tax remote sales and introduces an economic based nexus standard for sales tax.

Authors

Inez M. Mello, M.B.A., Stowe & Degon LLC

Agenda

It's Not as Streamlined as You Think - a Multistate Tax Discussion

Where Are We Now? SSTP v. the Wayfair Court Case

How Can the SSTP (or the Wayfair Court Case) Impact My Business?

Does the SSTP Have an Impact on Income and Franchise Taxes?

Traditional Nexus Requirements for Sales Tax vs. Nexus Requirements for Sales Tax Under the Wayfair Court Case