Multistate Sales Tax Issues for Contractors
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Gain an understanding of the rules of sales and use taxation and be aware of potential exceptions and special applications.This topic will assist contractors and those dealing with contractors an understanding as to who and what is subject to sales and use taxes, including who is responsible for collecting the sales tax or paying the use tax, e.g. who is the ultimate consumer, the differences in taxation between real and personal property, the taxation of repairs, repair services and installation, and the taxation of intangibles such as warranties. Without an understanding of these basic concepts, a contractor may significantly under-bid the cost and profit related to construction projects, or may be subject to additional taxes, penalties and interest upon audit. This program will not only review basic general rules, but will also discuss some exceptions and special applications.
AuthorsGary R. Thorup, Durham Jones & Pinegar
Who Is Responsible for Collecting or Paying the Sales and Use Tax?
• The Contractor as the Vendor or Retailer
• The Contractor as the Consumer
What Is Subject to Tax?
• Personal Property vs. Real Property
• Repairs and Installation
• Warranty Contracts
• Intangible Property
• Sales for Resale Exemption
• Religious and Charitable Organizations
• Government Entities