EPISODE · Jul 29, 2021 · 11 MIN
Use Tax
from SALTovation: Navigating the Complexities of State and Local Tax by Aprio
Stacey Roberts and Connie Zoerink, from TaxOps’ SALTovation Team, wrap their mini-series on transaction taxes by discussing use tax. They explain how it differs from sales tax and its reporting and licensing requirements. What You Will Discover:[00:56] The difference between sales tax and use tax[02:04] Reporting requirements for the purchaser[04:08] Does shipping affect the tax rate[07:11] Remediation options for noncompliance[08:33] Licensing and reporting requirements Quotables:“This is a type of tax that maybe may not be top of mind for taxpayers out there, but definitely one that can maybe be a surprise unfortunately under audit where we tend to see that come in as a surprise, or inquires from the state.” - Stacey Roberts [00:19]“A lot of times, the vendor will not charge tax. So if they did not charge tax on an item that’s actually taxable in your jurisdiction, then you need to accrue and self-remit the use tax to the jurisdiction.” - Connie Zoerink [01:29] Subscribe on your favorite podcast app:https://saltovation.captivate.fm/listenhttps://linktr.ee/taxops Follow Us on Socialshttps://www.linkedin.com/company/taxops-llchttps://www.youtube.com/channel/UCMB1ZQNGXM_F777SIEl8Vjw Talk To A Tax Advocate TodayTaxOps Website: https://taxops.com/contact/Production SupportThis episode was produced with support from Truth Work Media. www.truthworkmedia.comMentioned in this episode:Schedule a Call with the Aprio Team Now!Introductory Call
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Stacey Roberts and Connie Zoerink, from TaxOps’ SALTovation Team, wrap their mini-series on transaction taxes by discussing use tax. They explain how it differs from sales tax and its reporting and licensing requirements. What You Will Discover: [00:56] The difference between sales tax and use tax [02:04] Reporting requirements for the purchaser [04:08] Does shipping affect the tax rate [07:11] Remediation options for noncompliance [08:33] Licensing and reporting requirements Quotables: “This is a type of tax that maybe may not be top of mind for taxpayers out there, but definitely one that can maybe be a surprise unfortunately under audit where we tend to see that come in as a surprise, or inquires from the state.” - Stacey Roberts [00:19] “A lot of times, the vendor will not charge tax. So if they did not charge tax on an item that’s actually taxable in your jurisdiction, then you need to accrue and self-remit the use tax to the jurisdiction.” - Connie Zoerink [01:29]
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Use Tax
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