Sales and Use Tax Accounting#368023

Course Description

Course publication/revision date: This course was updated on 1/20/2023.

This course is designed to keep a business compliant with local sales and use tax regulations, thereby avoiding expensive fines and penalties. It does so by noting when sales and use taxes should be applied to a transaction and how to calculate and pay those taxes. The course also covers many special situations, such as sales tax exemptions, dealing with over- or under-collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit. It also addresses economic nexus, which requires that sellers collect sales taxes for sales made into other states. This course is an essential tool for the proper application of sales and use taxes within an organization.