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hello everyone and welcome to our session today with a Valera we're gonna be talking about how you can get free tax services in 24 States with streamlined sales tax and joining us from a Valera is Stacie DOS and before I turn it over to Stacy to cover on this hot topic I would just like to let you know that we will be recording this session and it will be available in our on-demand webinar library for you to review and share with anyone and if you do have any questions please feel free to type those into the questions box and we will get them answered during our Q&A time at the end of our session so now I will pass it on to Stacy to kick off our presentation great Thank You Angie and thank you to a novia for having us on this joint customer webinar and again thank you guys for taking time out of your day I know it's always a busy time for for people to get some time off to listen to something like this but we want to talk a little bit about streamline sales tax and how you possibly could get free tax service in 24 states as Angie said my name is Stacy dozy I'm a strategic alliance manager here at a valera that means that I get to work with fun partners like an obeah to do things for their customers and help educate and and just kind of manage those relationships so what we're going to talk about today I'm going to give you a brief overview on SST or we'll try to give you a little bit more than just a brief overview but give you an overview of SST what it is when it came about some of the changing tax obligations that you know make SST more prevalent today we'll talk about some of the key features and benefits of SST and then of course how is this free and how do you get it so you know how would we be offering free tax service to you and as Angie mentioned we will have some time for Q&A at the end I really don't expect this to take an hour and thinking we might be able to get through this in about 30 minutes so if you have questions please feel free to put them in the chat so let's first talk about a little bit about an SST overview so what is SST so from here on out that's all you're gonna hear me to say probably is SST but SST is really short for streamlined sale tax which is also short for streamline sales and use tax agreement so this was an effort by many state and local governments to try to simplify tax compliance for companies they wanted to try to reduce the cost and burden that some companies were seeing when it came to being compliant with sales tax and also to standardize and simplify taxman tax management so I'll talk more about this in detail but at a really high level they really were driving to look at what were all the things that states were doing around tax but they might be doing it a little bit differently from state to state so all of these states were doing it but maybe a little bit different so they wanted to create some rules and that brought uniformity to this process some uniform definitions and most importantly a standard form across these states so that as people are expanding their their tax footprint we'll talk more about this in a minute they may were going from one or two sales tax forms to you know 15 to 20 and that's very cumbersome because all of these states have different form forms so for some of these states they also wanted to come up with a combined in standard form for filing to make it easier in that process because that step alone can be very very complex so this believe it or not actually started in 1999 and the reason why I say believe it or not we'll talk about some things that happen last year that have brought the spotlight on the sales tax but actually back in 1999 the National Governors Association and National Conference of State Legislators came together to again try to create this idea of less complex more uniform tax policies across these states and so they wanted to also you know address an unlevel playing field for some merchants so when you talk about you have your large retailers you know who are selling across states but you also have your smaller ones and all of them have to play by the same rules and so they kind of wanted to make this a more uniform playing field for all companies that we're having to deal with sales tax so that we could make it again easier and more uniform so when I talk about some of these states and how you could get free tax in up to 24 states the SST Association is actually comprised of 23 full member and one associate member so the one associate member is Tennessee the only difference with them is they've actually achieved the substantial compliance needed by the SST organization but not necessarily each and every provision they have they've complied with enough and they've created enough compliance with enough of the rules that the group has agreed to let them be an associate member but they're not a full member so from your perspective probably not a whole lot of difference that's why we kind of just say 24 states comprised in this SST and this may or may not I'm not necessarily a sales tax that's for expert I'm not on the board by the way the board that that kind of governs this is made up of one person from every one of these states so they come together and they kind of work on all these policies along with local governments and tax practitioners and so each and every one of these states have has somebody involved in that and we'll look at this map again in just a minute and then why the need for SST so we've kind of talked about this a little bit a little bit but of course all of you know that sales tax rules are changing and they're changing rapidly and this has nothing to do really with anything that's happened recently but it's always been the case there's always new tax rules coming down new tax rates new tax ability on products it's kind of happening every every year multiple times a year so this is nothing new it's just getting more and more complex because many companies now that like I said their tax footprint has expanded so it's now not just about understanding the tax rules in your state for example but possibly multiple others and so this is a way for companies who are are you know habitats footprint in multiple states that they can have some uniformity at least across a large majority of these states and again we talked about some of these other things about the local merchants you know suffering because the playing field wasn't even across those who might be you know big-box retailers there was also some significant loss in tax revenue in some states due to online sales and so that was another reason these states came together and they said you know not only we want to make it easier for the merchants and for the companies but also we need to find a way for our states to continue to earn that revenue that we're looking forward to from transactional sales tax the other driver and this and the other reason that some of you may be hearing about this now for the first time even though SST has been around since 1999 is because of a ruling that happened last year so I kind of alluded to this last year on June 21st of 2018 there was a Supreme Court ruling that in South Dakota V Wayfarer that really changed everything that we knew about sales tax and so now there was this idea of economic Nexus which I'll talk about in a minute so that's kind of quick overview of what SST is I want to just talk a little bit about some of the tax obligations and a little bit more about this Wayfarer ruling and then we'll talk about the key benefits of SST so kind of expanding on the whole idea of South Dakota v Wayfarer again this goes back to a previous court decision actually there were two of them quill V North Dakota and the national Bella's Hess versus Department of Revenue of Illinois clovie North Dakota was a ruling that took place in 1994 I believe and the ruling that took place at that point was that physical presence was what gave a company Nexus in a state so by you having a building employees inventory in a state you had an actual physical presence in some way that was the mainstay of what sales - what gave you an economic era tax obligation in that state so this ruling that came down last year really overturned now I want to say overturn but keep in mind I'm not saying replaced economical Nexus excuse me is still very very much a reason for you to have an assay legs footprint in a state so it didn't go away really there was an addition to physical presence to now include what we call economic Nexus and that's what the ruling in South Dakota V Wayfarer was and so South Dakota you know had this realization that they were losing a lot of revenue from retailers retailers selling into their state that had no physical presence and this one all the way up through the through the court systems and the Supreme Court ruled that yes it is possible for you as a company to have what they would call an economic footprint in the state thereby giving you economic Nexus so South Dakota in you know in response to that has now imposed what they call their economic Nexus thresholds of either having a hundred thousand dollars in sales or two hundred transactions into their state so now aside from a company having this physical presence obligation so whether they have a building or remote employees or inventory sitting in a state they now could sell a certain volume of either dollars and/or transactions into a state and now also have a tax obligation so what has happened since last June is a number of other states have fallen quickly in line with saying yes we also have economic Nexus thresholds as well so in this this goes to how these tax obligations are changing because we're a company previously maybe had one or two states that they were in maybe they had their home office and a satellite off or skew not their home office but their headquarters in a satellite office or maybe that inventory in like fulfillment by Amazon so they had a few states now based on their sales they could have economic Nexus and so their footprint could be expanding quite fast and quite expansively so I just want to give you an idea of how some of these things have changed though because not everybody has used the thresholds that South Dakota has used so these are just three examples and the main thing that I want to tell you about is the the end and or statements here so for the Mars most part Alabama is really a revenue only state there is an and there but it means they engage in additional activities so advertising and stuff like that but by and large Alabama has said if you exceed 250 thousand dollars in the previous calendar year you would have an economic Nexus in Alabama whereas Connecticut has said two hundred and fifty thousand dollars and two hundred transactions and that in that case is the previous 12-month period ending September thirtieth and then of course Maine is saying it's a hundred thousand dollars in the current or previous calendar year or two hundred transactions so this is just to give you an idea we do have additional collateral for you to use to look at all of the different states but you can see there are different dollar amounts there are different transaction levels and some of them are and or or type criteria but most importantly is really to tell you that really pretty much all of the states have jumped on board with this there are five states that do not have sales tax Oregon and Montana for example our non sales tax states so some of these never will have economic Nexus rules but you'll see that by and large everybody in blue is a state that now has economic next whole nexus thresholds on their books so you know you as a company when you're looking at selling into any of these states do you know what the thresholds are in these states and what your revenue into those states is and how many transactions more importantly and I wouldn't say more important but I guess an additional piece to this is if you're also a wholesaler or a manufacturer I have a lot of those customers say well all of our sales are exempt and the reason that I bring that up is because some of these states their thresholds are based on total revenue not taxable revenue so you may meet a threshold even though it's they're not taxable sales which would obligate you to register in that state and remit a $0 return and ultimately if you were audited you would have to then prove why you didn't collect tax by providing your exemption certificates so this is as important for wholesalers as well as it is for manufacturers because there's still a possibility of having Nexus in some of these states and having to register and remit and then show why you did or did not collect tax so again just for comparison purposes this is all the states that have an economic Nexus threshold on their books I just want to flip to the other map that showed you the 24 SST states and of course the ones in blue are the ones that do not have sales tax right now so I mean it doesn't cover everything but think about how your business may be expanding in terms of their sales tax footprint SST can be a very beneficial thing because it does cover a vast majority of the states and then like I said include those five that where there's no tax and you know you've got you've got some pretty good coverage there so let's talk about some of the key features and benefits and I'm not going to read all of these and can certainly make them available to you and as Angie said this will be recorded but one of the things that we talked about earlier earlier was uniform rules so again every state may have had rounding rules for example but they may all have been different so these 24 states have come together and have created uniformity within how they round tax and this can be very very important if you've ever done a tax return rounding can be can cause you to be off by a little or a lot so these states have said we want to make this all uniform across these states uniform rounding rules uniform treatment of bank holidays drop shipment rules all of these things they try to create uniformity in their rules the other thing they've done in terms of uniformity is definitions and this seems like it would be pretty basic but in a lot of cases it clearly wasn't you know what exactly is a soft drink as a soft drink or computer software pre-written computer software I mean that those are the areas that you can really imagine where those definite definitions can vary from state to state so these 24 states have come together and said we now have uniform definitions that if you know and your system is set up to handle tax for pre-written computer software in this state it should be the same in all of the other 23 states so again creating that uniformity with those definitions and then the reason that all of you are likely here is one of the key features and benefits is potentially free service for volunteer sellers so what that means is free registration so tax registration in these states free transactions free filing audit assistance and so on and then it you'll notice at the bottom it says non volunteers so we're gonna talk about volunteer versus non volunteer here in a second but of course like I said the main thing here is some of these free services that you can get by being a volunteer seller in these states and this just expands on that a little bit sorry it's a little redundant but you know there's just some additional things like great simplification and no caps or threshold so that's another important piece so let's talk about these statuses the the volunteer versus non volunteer so I'm going to talk about the easiest one first a non volunteer seller in any of these 24 states if you currently have a physical presence meaning you have an office you have employees you have inventory and there are some levels here that we'll talk about but if you already have a true physical presence in any of those 24 states you are considered an on voluntary seller you likely are registered if you're not you should be your collecting and remitting and your fine in other states where you do not have a physical presence you could be a volunteer seller which means you would be eligible for all those free services free rates free filing all of that stuff as long as all the ot er thresholds are met or not met I should say so if your value of property in a state is under $50,000 if your payroll is under 50,000 so you can kind of get here they're kind of saying you don't have a physical presence because you don't have enough property you don't have enough employees in that state and so thereby you likely don't have a physical presence you can be a volunteer seller so keep in mind at the bottom there's a note that say you know these activities do not determine volunteer or non Gaunt volunteer status this economic Nexus that we talked about if you don't have a physical presence if you don't meet these $50,000 and 25% thresholds but you have economic Nexus you could still be a volunteer seller so even though you're required to register and remit tax you could get those services free which we'll talk about more in a minute the other thing that says prior registration is in a state I want to just clarify that if you have registered in a state previously because you have physical neck or physical presence nothing changes but some companies have had to register in a state because they've somehow triggered a random presence so things like that might be where at some point they had a trade show or something like that you know they had something that at one time qualified them maybe for a brief moment it was a small trigger so there might be a possibility in those cases where you could still be a volunteer seller but if today you have a physical precedent presence you would be considered a non volunteer and you'd be responsible for all of the payment in those states for calculation filing registration etc the other nice thing about this is it used to be and I don't exactly know the dates and I apologize for this but it used to be that if you are gonna opt into this program you had to do all 24 states now you actually have the ability to kind of be selective about the stage that you choose to go into so obviously as a non volunteer seller you're already in some of them and you can choose to volunteer only on the ones where you have economic Nexus or where you're going to be approaching economic Nexus or if you just don't know where you're going to be in the next 12 months and you think you're going to get their business is booming you might want to just go ahead and add all 24 states and just save the trouble and be set up but you have the ability to pick and choose which states you go into as far as SST is concerned so I just want to talk really briefly about you know how is this free and how do I get it and so a villarin part of the reason that we're here talking to you is a Valera is an agent certified under the streamline sales and use tax agreement to perform all of the end end tax solution there are only a handful of tax solution providers out there who are CSPs in this program and what that means is under this agreement not only can companies like yourselves volunteer to be a member but and they're the state's volunteer but any of these states who are in this program have agreed that they will pay their CSP providers for any of the volunteer sellers in their state so basically what happens is any of the the costs that you would incur in these volunteer states the SST program is going to pick up on your behalf and pay the CSP provider and again there's only us on a couple of other people who right now are certified to do that because we can of course give you all of the end-to-end solution which I'll talk to you about in a minute so so talking about that end-to-end solution really quickly a little bit about us a Valera is a cloud-based product we've been around since 2004 we've always been in the cloud we had some very bright people back you know years ago that thought that this was the way to go and it turns out they were right so all of our secret sauce all of our information is in the cloud and we do have a team of tax experts and researchers that are constantly in contact with state and local governments to make that we have all the latest and greatest tax rates tax boundaries product tax ability of all that stuff held up in our system and of course that will integrate directly into any of your and invoicing systems whether it's your ERP your e-commerce your POS system any other homegrown system that you might have because we do have an API we're going to integrate directly with that to go ahead and look at all of the rules around your products and and where you said to get you a product tax ability so that's really our calculation piece or our tax determination is the piece that will go up and say do you have Nexus in this state is this product taxable is this customer exempt and it will come back and give you a rate on each of those transactions I did mention earlier when I'm talking about wholesalers and manufacturers about exemption certificates obviously any other business and you distribute or anything like that would also have some exemption certificates that they might have to manage we do have a piece that covers that called cert capture so that we can effectively electronically manage all of your exemption certificates we can do electronic requests to your customers we can bring them in and store them in our cloud and they're easily retrieved and it can integrate into the tax calculation piece to determine if that customer is or not exempt from sales tax and then finally there's the returns and filing and you know we talked about SST it's made a little bit easier in these 24 states there is you know a uniform document that helps tremendously but if you happen to be in any of the states that are not part of that that means every state could have a different form and so a Valera can help to take care of managing your returns filing them for you and managing any tax notifications for you so it really is a true end-to-end solution and like I said the SST program will help will actually pay for those services for anybody who qualifies as a volunteer seller in any of those 24 states so with that I think we did pretty good I thought we'd be in about half hour I'm going to open it up and just see if anybody has questions Thank You Stacy and no questions have come through at this time but if anybody does have any questions that you would like to ask Stacey now is the time to type those in and we can get them answered for you I guess she did a really good job Stacey well it certainly if anybody has questions please feel free to contact you know via your account manager at Ono via they can get you connected with us you can also Google Apple era and SST I could put a bunch of links out there but that gets really complicated but there will be some follow-up to you if you if you have questions about that as well actually a question has come through Stacey what is involved in a setup install that is a very good question I actually have some slides and I don't I actually don't know all of the steps exactly so if I'm gonna just kind of table that and Angie if you can get me the person who asked I will send that information out and to that person if anybody else wants as well I just I honestly don't have all the steps memorized and they don't have the slide in this deck there are some deadlines as far as you know when you need to be registered with the SST Association there's a I don't that's the 15th of a month and the first filing so there are some specific deadlines that take place and unfortunately I apologize I just don't know all of them right off the top of my head sorry that's okay we can get the information out to the attendee that asked not a problem perfect thank you Andy all right well if nobody else has any questions I'm just gonna wrap this up thank you again Stacey for presenting today and to everyone on today's call or if you are watching on demand we thank you for joining us and I do want to let you know that we do have a few more webinars coming soon tomorrow the 18th of September we have true commerce presenting on true commerce next journal ecommerce platform and they're going to be doing an overview of that and a demo as well and then on Thursday the 19th we have Equus free 19 on document and expense management designed for business central cloud and on-premise I coming events and that's a no Viacom slash events and I also want to mention our new podcast that is going on if you have not heard of it it is called the enou via conversation and you can find out about all the different podcast platforms to listen to on our podcast page and that's a no va.com slash podcast so check out the podcast selection and subscribe so you get notified on all of our new episodes that air in de novia is proud to be a platinum sponsor of bc eugene a bug summit in Orlando Florida this year and those dates are October 13th through the 18th and if you haven't registered already or if you want more information about summit you can check out our conference page on our website and that's a no va.com slash conferences alright thank you again for joining us and we look forward to seeing you again soon on another inovio webinar have a great day everyone thanks Stacey