Course Description
Sales tax is a type of gross receipts tax imposed by most states on the sale of “tangible personal property” (such as computers, chairs, car parts, furniture, etc.) and certain services (such as information services, software services, etc.). Every state has a different set of rules that controls what types of items and services are taxed. Also, every state has different types of exemptions and exclusions from sales tax that favor some businesses and can be costly to others.
Over 40% of the annual state budget is funded by sales tax. They know they are not receiving all the tax dollars they are owed.
Most business owners are unaware that if they are not required to collect sales tax, proper exemption paperwork from their customers should still be obtained. Also, most business owners are completely unaware of USE TAX being due on their nontaxable sales.
To prevent out-of-state sellers from having a competitive advantage over in-state sellers, all states (that have a sales tax) impose a “use tax” on in-state purchasers. Thus use tax requires all purchasers (individuals and businesses) to pay use tax on any item normally subject to sales tax unless the applicable sales tax has already been paid.
This online CPE webinar for CPAs and Tax Professionals covered the following key topics:
- What is sales tax?
- Who is responsible for paying Sales Tax?
- The Sales Tax Return filing jurisdictions
- How specific business activities can create a connection to the state?
- What types of products and services are subject to sales tax?
Click for more webinars on | Sales & Use Tax | IRS Audit, Representation, and Resolutions |
Learning Objectives
- To provide a basic understanding of Sales Tax
- To discuss who is responsible for paying Sales Tax
- To explain how to compute and pay Sales Tax
Recommended For
This IRS-Approved CE course on sales tax is recommended for CPAs, EAs, AFSPs, Business Owners, Tax Professionals, and Other Professionals or Staff Member Involved in the preparation or review of Sales Tax & Use Tax Returns.
Who Should Attend?
- Accountant
- Accounting Firm
- Bookkeepers & Accountants & Tax Preparers
- California Registered Tax Professional
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- Maryland Tax Preparers
- Oregon Tax Preparers
- Tax Accountant (Industry)
- Tax Attorney
- Tax Director (Industry)
- Tax Firm
- Tax Managers
- Tax Practitioners
- Tax Preparer
- Tax Professionals
- Tax Pros
- Young CPA
