Wednesday, November 18 @ 10:20 AM
Scott Peterson, Vice President of U.S. Tax Policy and Government Relations, at Avalara—a Seattle-based tax compliance software company that helps to manage the complexity of sales tax nexus—will be a Keynote Speaker at this year’s NCCPAP Accounting & Tax Symposium (ATS 2020), taking place on November 10, 13, 18, and 19. Mr. Peterson, who has particular expertise in tax law relative to ‘Wayfair’, will speak from the perspective of CPAs and how they can best service their business clients.
Mr. Peterson comments, “As a result of the United States Supreme Court South Dakota v. Wayfair decision, we now live in a world where businesses are no longer in charge of what they have to know relative to how and where their products are sold; today, it’s the customer that drives this. As a consequence, no business can possibly know all of the tax intricacies of every state. The responsibility for that knowledge falls to the CPA who handles that business as a client.” He continues, “Furthermore, there’s very little national education out there on state sales taxes. That’s why comradery and collaboration among CPAs, especially in a collegial organization like NCCPAP, is a great approach to compliance.”
In addition to his credential mentioned above, Mr. Peterson was the first Executive Director of the Streamlined Sales Tax Governing Board, an organization devoted to making sales tax simpler and more uniform for the benefit of business. He has also spent 10 years as the Director of the South Dakota Sales Tax Division and 12 years providing research and legal writing for the South Dakota Legislature. He has also been recognized as one of Accounting Today’s 100 Most Influential People in Accounting for two consecutive years.
About his Presentation
The State of Wayfair: Practical Advice for Practitioners & Businesses
Wayfair has a documentation requirement as well as a tax paying requirement; therefore, every business must document its sales, even if the goods and services are exempt from sales tax. Those in digital businesses are subject to even more complexity because they can have customers anywhere in the world. As another example, if your business is a marketplace, it is treated as a retailer according to state tax law. Even something like a community college may be subject to state tax if their courses are taught online and offered ‘on demand’. Up to 50% of small businesses have never even heard of Wayfair, even though they are directly impacted. This is an opportunity for CPAs to help their clients and take on more of a consultative role.