Businesses everywhere, and potentially every day, receive what we like to call a state 'love letter' - a dreaded notification of a sales and use tax audit.

For some businesses. they might not have ever gone through a state sales and use tax audit. The thoughts of an audit can feel like a very overwhelming task, but it does not have to be.

This webinar will explain the ins and outs of a sales and use tax audit. Our hope is that when you receive that 'love letter' shear panic does not come over you.

We have noticed an uptick in state sales and use tax audits as a result of many factors - Wayfair and tight state economies as a result of the pandemic.

This webinar will educate you on the different stages of an audit and what to expect in each stage. This material will also assist you in developing a plan for future compliance. Lastly, we will discuss some industry-specific issues that might arise during a sales and use tax audit. The goal is to help you feel prepared for a sales and use tax audit and to help avoid audit pitfalls that can lead to significant assessments.What You'll Learn:Pre-Audit

• Steps to Take Before You Receive an Audit Letter
  
• Audit Letter/Power of Attorney Form
  
• Steps to Be Taken Once You Receive a 'Love Letter' From the State
  
• Audit Questionnaire
  
• Preliminary Review of Audit Records

Audit

• Audit Approaches
  
• Wayfair Impact
  
• Fixed Assets
  
• Expense Items
  
• Sales Tax
  
• Exemption Certificates
  
• Timeline

Audit Wrap-Up

• Review Audit Results
  
• Know Your Rights for Protest
  
• Penalty Abatement
  
• Future Compliance

Industry-Specific Audit Issues

• Service Industry
  
• Contractors
  
• Wholesalers
  
• Retailers
  
• Restaurants
  
• Manufacturing