- NY Credits : 1.0
- TX Credits : 1.0
Sales and Use Tax - Tax Base
While a few states do not have a state level sales tax, many do charge one, in addition to local sales taxes. This course looks at the differences in the bases that different states use. As with many types of taxes there are exemptions and exclusions and common ones are included within the discussion. Understanding what is included in the sales price is only part of the equation. Applying the appropriate tax rate to correctly calculate the liability is important as well.
This course is most beneficial to professionals new to sales and use tax who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this subject.
Upon successful completion of this course, the user should be able to:
recognize the significant variations in the sales tax imposition base between states,
recognize the concepts and principles of revenue items that should be included or excluded from the tax base subject to sales taxes,
identify the difference between exclusions from the tax base and tax exemptions, and
determine how to calculate the taxable sales price.