South Dakota v Wayfair: How do you Advise your Clients?
South Dakota v Wayfair – the biggest change in sales and use tax in 50 years. This case impacts every business – both sellers and purchasers. Businesses of all sizes are not sure what to do, particularly if they’ve taken a wait and see attitude. What are you doing to help your clients evaluate their risk? How do you answer their questions? Have you looked at this from the P2P side? Are their vendors charging tax correctly or are they overpaying tax? We will discuss the current landscape including states adoption of Marketplace Facilitation provisions and the impact on sellers and their registration requirements. We’ll also address key points you need to cover with your client’s – particularly the ones that may be moving towards an exit strategy such as an IPO.
Topics covered include:
• Update on South Dakota v Wayfair case and what the states have been doing including for marketplace facilitation
• Review process changes that are required due to changes in vendor collection of sales tax
• Key criteria to review in evaluating risk and financial exposure