States offer generous sales tax manufacturing exemptions and rate reductions. What’s so difficult about taking advantage of these tax breaks? And why invest in sales tax training seminars for your staff?
First, here are four reasons why sales tax exemption guidelines are difficult to maneuver.
1) No consistency among states: Each state sets its own exemptions and qualifications. General sales & use tax training that doesn't address state-specific regulations is incomplete.
2) A moving target within a state: States revise existing sales tax regulations often. New laws are introduced regularly. Training should be conducted every 1-2 years.
3) Confusing directions from states: Contacting a site via the internet or phone for sales tax guidance is time consuming and confusing. Training will explain regulations from a manufacturing perspective.
4) Internal obstacles at your company: New and changing staff members and lack of communication leads to unidentified sales tax mistakes. Training will bring everyone up to speed and on the same page to minimize costly errors.
Sales and use tax training can give your staff the practical tools to make cost-saving tax decisions, but only if the training focuses on state-specific laws and regulations from a manufacturing point of view.
When shopping for sales tax training courses, insist on these criteria:
- Is the training state specific?
Don’t waste time with training that doesn’t apply to the laws and transactions pertinant to your company.
- Does the curriculum focus on the manufacturing industry?
Why sit through tax updates that don’t have a pratical application to you?
- Are the instructors experts in sales and use tax?
Are they certified? Do they have hands-on experience? Are they thought-leaders in the sales and use tax industry?
- Is the training easily accessable?
Is the training taught at a remote location? Is it available via webinar? Can it be accessed multiple times over a period of time? Different companies have different needs. Make sure your training is customized to be the best fit for your company.
- Will you have access to the instructors for questions or services in the future?
Who can you call when you have questions about manufacturing exemptions, audits, or new legislation?
Professional training is one of the best ways to reap the benefits of sales and use tax exemptions and rate reductions available to manufacturers. But do your homework and find the right sales tax training. The payoff will be tax savings and fewer costly mistakes.
Learn more about Cherry Bekaert's sales and use tax training here.
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