Monthly Archives : June 2017

Manufacturing Workshop: Trending Sales Tax Topics for Manufacturers

by on 26 June 2017in Blog, Manufacturing

I recently had the opportunity to attend the Institute for Professionals in Taxation’s 2017 Midwest Manufacturing Tax Workshop. The two-day workshop was held at the Sheraton Hotel in Ann Arbor, Michigan. Here are a few of my key takeaways:

  • Expect there to be an uptick of merger and acquisition activity soon for manufacturers. The nationwide volume of mergers & acquisitions declined in the latter half of 2016 amid political uncertainty. Partially due to this lack of activity, cash balances are now sitting extremely high and this high liquidity is expected to result in a large uptick in mergers and acquisitions as 2017 progresses. Sales & use tax professionals should pay close attention to any M&A activity at their company due to the potential sales tax consequences of the merger or acquisition itself, as well as understanding the sales tax liabilities of the company being acquired (including nexus implications).
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6 Reasons Costly Tax Mistakes Occur with P-Card Purchases and How to Avoid the Mistakes

by on 1 June 2017in Blog, P-Cards

Many manufacturers implement P-Card programs to allow assigned employees to purchase goods and services without having to request the purchases through traditional purchasing processes like purchase requisitions and purchase orders. P-Card programs reduce purchasing time as well as administrative costs.

When implementing P-Card programs, guidelines are usually established to ensure the success of the program. Guidelines often include spending limit amounts, an outline of employees authorized to purchase goods and services with a P-Card, measures to prevent fraud, and other important rules to ensure the success of the program.