Overview
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Sales Tax vs. Use Tax
13 mins
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Collection Action
44 mins
Course Description
Sales & Use 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.
Most business owners are unaware that even if you believe you 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. This 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 covers the following key topics:
- What is use tax?
- What happens when an in-state vendor does not charge me sales tax?
- What happens when an out-of-state vendor does not charge me sales tax?
- What is my responsibility with use tax?
- How do I pay use tax?
- Are there penalties for not paying use tax?
- Am I personally liable for use tax?
- Is there a statute of limitations for the payment of use tax?
- What tax rate do I apply to use tax?
- What if I have never paid use tax before?
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Learning Objectives
- To provide basic understanding about Use Tax
- To discuss who is responsible for paying Use Tax
- To explain how to compute and pay Use Tax
Recommended For
- This online CPE/CE webinar is recommended for any Tax Professionals, or their Staff Members seeking an understanding of Income and Sales tax nexus.
Who Should Attend?
- Bookkeepers & Accountants & Tax Preparers
- California Registered Tax Professional
- Certified Fraud Examiner
- Certified Valuation Analysts
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- Enrolled Agent
- Maryland Tax Preparers
- Oregon Tax Preparers
- Tax Attorney
- Tax Director (Industry)
- Tax Firm
- Tax Managers
- Tax Practitioners
- Tax Preparer
- Tax Professionals
- Tax Pros
- Young CPA
