Sales Tax Institute

Are you facing roadblocks on the way to sales tax compliance? Tomorrow, join R&M Consulting for our Sponsor Forum in the Sales Tax Nerd Community! Audra Haw and Anthony Bourke will share R&M's unique approach to tackling compliance issues. We'll also have a question and answer section to gain insights about your tax compliance. R&M Consulting is a boutique consulting firm that works in two key areas" tax and internal audit. These services are valuable assets to your organization. This Zoom meeting tomorrow at 2 pm ET / 11 am PT is a valuable opportunity to learn more about tax compliance techniques and best practices. Join us in the Sales Tax Nerd Community for this meeting. Join us now! https://lnkd.in/drWqiSj2 #Tax #Compliance #AccountingTips #SalesTaxNerd

Sales Tax Jumpstart is starting in a couple weeks! Navigating the complexities of sales tax compliance in today's business landscape can be daunting, especially post-Wayfair. That’s why the Sales Tax Institute's Sales Tax Jumpstart program is a game-changer for anyone looking to master sales and use tax. Over nine weeks, this interactive online course provides you with the essential tools and knowledge needed to handle multi-state sales tax compliance confidently. Led by Diane Yetter, this course offers a practical, hands-on approach to learning, ensuring you’re not just absorbing information but applying it directly to your business. There are hundreds of Jumpstart alumni in the industry who are using the skills they learned every day. Hear from Michael Meek, a Jumpstart alum, on what brought him to this class and how it has changed the way he works. Watch now! https://lnkd.in/gVRH_2r3 #Jumpstart #AccountingTips #SalesTax

I started this series a few years ago to highlight some fellow women owners of #salestax firms. Then decided why not just highlight all the women #salestaxnerd. This project has given me so much joy talking to the women I've know for years as well as those I'm meeting for the first time. Everyone has a different story and their own piece of advice. I am inspired by all these amazing women. How are you helping advance the women in your company or network? If you are a woman working in sales tax and want to share your story, DM me! #WomensEqualityDay

The word "sorry" can seem like a gut reaction sometimes. But is it always justified? This article by Carolyn Tang Kmet at the Illinois CPA Society (ICPAS) breaks down how women apologize more often than men in the workplace. There are a variety of reasons for this, but what are the solutions? Diane Yetter and five other accomplished women give their thoughts on the societal pressure that women face. Read this article to hear more! #WomeninSalesTax #WomensEqualityDay https://lnkd.in/gc4_BYfx

YETTER Tax and the Sales Tax Institute celebrate Women's Equality Day! As an organization, we devote ourselves to uplifting women in the industry. Through our core values of being in service and integrity, we express our commitment to equity and empowerment for women everywhere. We commit ourselves to these values and practice them everyday. One of our favorite examples of this commitment is our Women to Watch in Sales Tax series, where we celebrate the accomplishments of women in this male-dominated industry. This series shows the incredible strength and success that women in sales tax achieve. Watch this video to hear the valuable advice from #WomeninSalesTax! #WomensEquality #WomensEqualityDay YETTER Tax

In one month, Diane Yetter will be speaking at Council On State Taxation's Annual Meeting in St. Louis, MO! Diane will be apart of the exciting panel Enhancing Indirect Tax Management through Technology. If you've been curious on how technology solutions can enhance the way you work, this is a can't-miss session. Click here for more info. #SalesTaxNerd #SalesTax #Accounting https://lnkd.in/gqe6KaW5

How do I know if I should be collecting sales tax? There are no dumb questions in sales tax- it's a complex topic with lots of regulations, absurd exceptions, and very little consistency. Understanding when and where to collect sales tax is crucial for businesses operating across state lines. Nexus—a significant connection between a business and a state—plays a central role. Nexus can be established through a physical presence, such as employees or a business location, but also through economic activities like attending trade shows or storing inventory in a state. After the 2018 Wayfair decision, economic thresholds can create nexus without physical presence, making it essential to evaluate your business's activities in each state. If you've figured out you're obligated to pay sales tax, the registration process is your next step. Businesses must register with the state before collecting sales tax. Operating without registration can lead to legal complications since sales tax is a trust tax. The registration process involves understanding the specific taxes required, such as sales or use tax, and accurately completing forms, which can impact your filing requirements and frequency. Incorrect or incomplete registrations can result in penalties, making careful attention to detail essential. If you're reading this and realizing that you should have registered long ago, it's not all over for you. You can consider Amnesty Programs if you’ve overlooked past obligations. Exploring state amnesty programs could help mitigate penalties. These programs offer opportunities to settle past liabilities more favorably, often reducing interest and penalties. Taking advantage of such programs can be a strategic move for businesses looking to correct past oversights and ensure compliance moving forward. As you're figuring out what's next for your compliance, read this article for more info: https://lnkd.in/gXZs_9vB #SalesTax #Tax #AccountingTips

When is a computer not a computer? This isn’t a riddle- to figure out taxability of an item, you need to see how it’s defined. But it’s not that simple- states and localities can have wildly different definitions from each other. For example, take a look at the way the Streamlined Sales and Use Tax Agreement defines some important terms: “Computer” is an electronic device that accepts information in digital or similar form and manipulates it for a result based on a sequence of instructions. “Computer software” is a set of coded instructions designed to cause a “computer” or automatic data processing equipment to perform a task. “Delivered electronically” means delivered to the purchaser by means other than tangible storage media. “Digital Audio Works” is a work that results from the fixation of a series of musical, spoken, or other sounds, including ringtones. “Digital Books” means works that are generally recognized in the ordinary and usual sense as “books.” These are just a couple of definitions from the Streamlined Sales Tax Project. States outside of Streamlined Sales Tax can (and do!) come up with their own definitions of product types for sales tax. If these definitions seem granular or frustrating, you’re not alone. But specificity from the states can allow for clarity and a more efficient sales tax process. These complicated definitions aren’t your enemy, but an opportunity for peace of mind in ensuring sales tax compliance. What’s the craziest sales tax definition you’ve come across? These definitions are everywhere for sales tax professionals. Nailing them down can mean standing out at your job. Find out more on the definitions of digital products here: https://lnkd.in/gcdd3RWC #salestax #digital Carolynn Kranz

Crypto, NFTs, and digital goods are always changing. Can sales tax keep up? Legislative processes are notoriously slow. On the state level, where sales tax is administered, sales tax legislation needs to pass through bureaucratic hoops and legal red tape to take effect. Some legislation may already be outdated or obsolete by the time it gets passed. Compare this with the digital space. New products and innovations are always being launched. With the introduction of artificial intelligence and its implementation in products, it seems like things have never been faster. This means that, despite some states' best efforts, sales tax for digital goods is challenging. As one of the most unique industries to deal with, there are challenges to avoid and opportunities to take advantage of. How are you going to ensure your compliance? If you work in financial operations- including tax, general accounting, accounts payable, sales, tax technology, purchasing and credit- a closer look at your sales tax obligations is a must. Read this for more info on the taxation of digital goods and services: https://lnkd.in/gqGPAZfq #Digital #NFT #Crypto #SiliconValley

According to a Gallup poll, only 38% of workers believe someone at work cares about them. What's gone wrong? Loneliness at work is a massive problem, and we're just beginning to feel the consequences. Check out this article by Tracy Brower, PhD in Forbes. Using recent data and trends, Tracy breaks down the reasons for widespread isolation in the workplace- and what can we do to combat it. What do you do to stay connected? Is it brief messages to co-workers? Making small-talk ahead of Zoom meetings? Sending physical notes to friends far away? Read more here: https://lnkd.in/ensQ8JRn #WorkplaceLoneliness #Career #Connection