Understanding sales tax refund

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • MRTP
  • CFIRS
  • CWS

Published: June, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Sales Tax vs. use Tax
    2 mins
  • Compliance
    9 mins
  • Exemption Certificates
    15 mins
  • Refunds
    20 mins
  • Staying Out of Trouble
    48 mins

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.

Often, you may be eligible for a refund of sales or use tax. If you overpaid sales tax on a purchase, paid sales, and use tax in error, or collected, reported, and remitted sales tax but then repaid it to your customers, then you may be eligible for a refund of sales or use tax. To apply for a sales or use tax refund it is important that you use the right form, have all the correct documents to support your refund claim, and know where and when to send your claim. 

Key topics included in this online CPE webinar: 

  • Can I get a sales tax refund? 
  • How do I file for a sales tax refund? 
  • What looks back period is eligible for a refund? 
  • Can I get a refund for the receivables I write off? 
  • If I am a manufacturer, when does sales tax not apply to my purchases? 
  • When can I get a refund for the use of electricity? 
  • Can I get a refund on printed advertising? 
  • Am I eligible for a refund on the sales tax I paid for repairs to my equipment? 
  • What research and development activities are eligible for a sales tax refund? 
  • Does the state pay me interest on my refund?

Click to access more webinars on IRS Audit | Latest Tax Updates | Financial Planning

Learning Objectives

  • To discuss the conditions for eligibility for sales tax refund
  • To examine the process of applying for a sales tax refund
  • To discuss specific service industries and the areas where they can potentially receive a sales tax refund

Recommended For

This online CE IRS approved webinar is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals engaged in advising clients about sales tax issues

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • Certified Fraud Examiner
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • 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

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00410-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0411)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00410-21-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00410-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Mark Stone

Accounting Manager, Sales Tax Defense LLC

Mark L. Stone is the Managing Partner of Sales Tax Defense LLC. He founded the firm in 2008. The firm specializes in Sales, Use and Transaction Taxes. Services include sales and use tax consulting, audit defense, settlement negotiation, and preparing and filing sales tax returns in multiple states. He represents companies and individuals before state taxing authorities and through the appeals process.  Mark has testified as an expert witness in sales and use tax court cases as well as assisted attorneys and other accountants in their representation of clients in criminal investigations. 

Mark began his career as a sales tax auditor for the New York State Department of Taxation and Finance. After gaining experience working for the State, he moved on to work at several prominent accounting firms such as Raich Ende Malter LLP and The Marcum Group LLP.  In 2008, he decided to open his own firm solely focusing on sales and use tax. During this time, he was also an adjunct graduate school professor at Long Island University C.W. Post Campus. 

Mark has written articles in several publications such as Long Island Business News, New York State Society of CPAs Nassau Chapter Newsletter, Daily News, and Long Island Pulse Magazine. 

He is a frequent speaker for different organizations and has spoken for the New York State Society of CPAs, the Nassau County Bar Association, the Suffolk County Bar Association, as well as for various accounting firms and businesses. 

About Company

Sales Tax Defense LLC

www.salestaxdefense.com/

Sales Tax Defense LLC is a boutique tax-consulting firm that only provides sales, use, and transaction tax advice. We are a dedicated team committed to helping accountants, attorneys, fellow professionals, businesses, and their clients understand and comply with the sales and use tax laws. When there is a sales tax problem, we work to quickly and cost effectively resolve the sales and use tax issue, and then provide guidance to help avoid similar problems in the future. When we are engaged or referred by a fellow professional, we respect the relationship that they have with their client. We work only to resolve the sales tax issue and return the client to that professional with an enhanced sense of confidence in them.

Faq

FAQs content

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Ratings and Review

4.9

18 Ratings

Excellent

16

Very Good

2

Average

0

Poor

0

Terrible

0

DT

David Then, CPA (US)

Jan 27th, 2022

Great CPE, Valuable content.

TT

Terri Tindall, Accountant

Apr 8th, 2022

This was well presented and the presenter was knowledgeable of the topic.

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