Are You Paying Too Much Tax? Drafting Contracts to Minimize Taxes (Including the Potential Impact of International Taxes)

The taxability of a transaction and what portion of a transaction is taxable are common issues that arise in the sales tax arena. One way of predetermining these issues is to draft the contract that governs a transaction to clearly reflect the parties’ intentions. For example, do the parties really want to enter into a contract that grants a customer a license to use software? This session will discuss how to draft contracts to reflect the intended transaction, thereby avoiding audit issues and proposed assessments based on poorly written contracts. The presentation will also discuss international transaction taxes (e.g., VAT) and strategies for preventing problems with those taxes as well.

For more information, visit the Coucil on State Taxation website.