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Sales & Use Tax and Accounting Q&A

Tue 9:00 AM to 11:00 AM
Topic: Business Accounting and Budget

If you have questions about sales and use tax laws, you're not alone. There are 7,500 different taxing jurisdictions in the United States alone, and they routinely tax the same products differently. It's easy to understand why our sales and use tax laws are considered among the most complicated. To add to your challenge, state governments are aggressively pursuing new avenues of taxation. Faced with a slumping economy, they want a bigger piece of the revenue pie. Further, Internet sellers face a murky and sometimes ill-defined landscape with respect to sales and use taxes that are impacted by both state law and federal constitutional principles. What Is Sales & Use Tax? How Does It Work? Sales Tax Sales tax generally can be described as a tax imposed by state and local governments that is paid by a purchaser of goods and services. Use Tax Use tax is a tax that you have to pay if you purchased a product or service and did not pay any sales tax. Generally, it is for out-of-state purchases of taxable items that will be used, stored, or consumed in one's state of residence and on which no tax was collected in the state of purchase.

Speaker(s): Steven Jones, CPA CPA at Stone & Jones CPAs PLLC Stephen W. Williams TSBDC Director

Fee: No Cost