Arkansas Sales and Use Tax for Manufacturers Training Class

Course ID: 16779

Arkansas Sales and Use Tax for Manufacturers Training Seminar

Minimize Tax Liabilities

Sales and use tax is one area that is often overlooked when it comes to finding cost-efficient ways to run a manufacturing business. Now you can provide your business with sure-fire ways to minimize tax exposure and take advantage of sales and use tax exemptions unique to the manufacturing field.

This seminar will provide you with the information you need to find some of the "buried" savings that are often missed. Review recent legislative developments affecting manufacturers and target some of the areas of sales and use tax exposure for manufacturers. You'll also take a close look at manufacturing exemptions, as well as administration, compliance and audits. The program also includes an overview of miscellaneous tax issues, such as bad debts and cash discounts. Don't miss this opportunity to reduce your liability through the latest tax saving techniques.

Uncover "buried" tax provisions that will help to reduce expenses!

Explore recent legislative developments and how they impact you
Put together an action plan for minimizing sales and use tax exposure
Find out how manufacturing exemptions can work to your advantage
Get practical tips for administration, compliance and audits
Learn how to respond to tax issues such as bad debts, cash discounts, and county taxes


	Agenda
	INTRODUCTION AND OVERVIEW ARKANSAS SALES (GROSS RECEIPTS) AND USE TAXES Michael O. Parker, 8:30 - 9:15 Nature and Purpose of Tax Tax Rates Coverage and Exclusions - Sales Tax Coverage and Exclusions - Use Tax Exclusions and Exemptions in General Liability and Collection Permits and Registration Relation to Other Taxes MANUFACTURING MACHINERY AND EQUIPMENT EXEMPTION -MANUFACTURERS' EXEMPTION James M. Saxton, 9:15 - 10:00 Overview Machinery and Equipment Exemption Identifying Exempt Equipment Replacement in Entirety Specific Types of Equipment Pollution Control Equipment Fuels, Lubricants and Supplies Use of Contractors Rentals and Leasing LEGISLATIVE, JUDICIAL AND REGULATORY DEVELOPMENTS Martha G. Hunt, 10:15 - 11:00 Arkansas Supreme Court Decisions Legislative Changes THE MANUFACTURING PROCESS AND RELATED PURCHASES Michael O. Parker, 11:00 - 11:30 Purchase for Resale Exemption - Generally Ingredients/Components - Traditional Tests Chemicals and Catalysts SERVICE TO MACHINERY AND EQUIPMENT James M. Saxton, 11:30 - 12:00 Refurbishing and Repair Special Exemptions Special Circumstances Jurisdiction SALES & USE TAX ISSUES INVOLVED IN PLANT CONSTRUCTION Martha G. Hunt, 1:00 - 1:45 Construction Contractors Taxable and Nontaxable Services Performed by Contractors Purchases by Contractors Contractors Who Also Manufacture or Fabricate Tangible Personal Property Sales Tax Rate Increases and Materials Purchases Special Foundations Mechanical Devices Heating and Air Conditioning Systems Service Contracts Contract Labor INDUSTRIAL INDUCEMENTS Michael O. Parker, 1:45 - 2:15 Specialized Programs Introduction to the Consolidated Act Tiers Retention Sales and Use Tax Credit (Investark) Sales and Use Tax Refund for New and Expanding Eligible Businesses - Tax Back Sales and Use Tax Refund for Targeted Businesses Grants and Infrastructure Programs SALES BY MANUFACTURERS Michael O. Parker, 2:30 - 3:30 Sales of Product Discounts Trade-Ins Repair/Exchange of Products Bad Debts/Bankruptcies Marketing and Advertising Withdrawals From Stock ADMINISTRATION AND COMPLIANCE Martha G. Hunt, 3:30 - 4:40 Permits, Filing and Remitting Requirements Prepayments, Electronic Filing and Other Requirements Refund Claims Audits Administrative Hearings, Judicial Remedies Other Procedural Matters


	Audience
	This basic-to-intermediate level program is appropriate for CPA's, general accounting, accounts payable, accounts receivable, tax, finance managers, controllers, financial directors and vice-presidents, enrolled agents, and other tax specialists. This program will also benefit attorney's who want to better understand the impact of sales and use taxes on their Arkansas manufacturing clients.