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Sales & Use Tax Tips (2011 and prior tips courtesy of Olivier & Associates)

COLORADO DOR ANNOUNCES 2017 LOCAL TAX CHANGES

December 2016
The Colorado Department of Revenue Posted Local Tax Changes Effective January 1, 2017.

Several Colorado state-collected and home-rule jurisdictions tax changes will take effect January 1st, 2017. Businesses should update their billing systems accordingly.>>> continue

SALES TAX COMPLIANCE SOLUTIONS FOR QUICKBOOKS

March 2015
How Can QuickBooks Users Handle the Complexities of Sales and Use Tax Compliance?

Many businesses choose QuickBooks for a low-cost accounting system, but what about handling complex sales and use tax issues? We'll address some of the specific difficulties in Colorado, but the solutions apply to other states as well.>>> continue

EXTENDED WARRANTIES, MAINTENANCE AGREEMENTS &SERVICE CONTRACTS

February 2015
Conflicts between Colorado State and Home-Rule Cities Result in Audit Assessments

Across the country, a common issue in determining the taxability of Extended Warranties and Maintenance Agreements is whether or not such service contracts are optional or mandatory. If they are included in the purchase price or are otherwise required as part of the purchase, they are generally considered as taxable.>>> continue

TEXAS ADOPTS NEW LOCAL TAX RULE (§3.334)

December 2014
Rule Addresses Texas Local Sales and Use Tax Determination, Collection, Accrual, and Remittance

The new Texas local tax rule addresses the following local tax topics>>> continue

DENVER UPDATES SOFTWARE TAX GUIDE

October 2014 supplement
Does Denver Tax Software?

Yes! Denver differs from Colorado State. Denver taxes software regardless of whether or not the software is canned or custom, on disk or downloaded, considered Cloud Computing SaaS or otherwise. This is often unknown until a business is audited and results in small audit assessments to those from the low hundreds of thousands to the multi-million dollar level on this issue. Software is also a complicated area sales and use tax. Denver has just updated their Tax Guide Topic No. 18 Data Processing to help clarify the issues.>>> continue

SALES TAX and FULFILLMENT BY AMAZON

October 2014
Do FBA Vendors Have To Collect Sales Tax For Multiple States?

Yes! Amazon is acting as your agent in the states in which it has fulfillment centers.

You send your products to Amazon’s fulfillment centers. Amazon stores your products. Customers purchase your products and Fulfillment by Amazon picks your products from inventory, packages them, ships your products from their network of fulfillment centers and provides support. These are generally considered nexus triggering activities allowing states to require you to collect their sales tax.>>> continue

COLORADO - SALES TAX EXEMPTION ON MANUFACTURING EQUIPMENT

March 2014
Changes Effective January 1, 2014

The Colorado Department of Revenue published revisions to two FYI noting changes that made the sales and use tax base of the Regional Transportation District (RTD) and the Scientific and Cultural District (CD) the same as the state sales and use tax base. The RTD and CD did not previously exempt Machinery and Machine Tools.>>> continue

COLORADO PROPOSES CHANGES TO MEDICAL MATERIAL, EQUIPMENT, AND DRUGS 39-26-717 1 CCR 201-4

February 2014 - Supplemental
Public Hearing to be held March 5th, 2014

The Definition of "Prosthetic Devices" be may changed!

The language to be struck is "A "prosthetic device" is an artificial part which aids or replaces a bodily function and which is designed, manufactured or adjusted to fit a particular individual. The foregoing descriptions also apply to prescription drugs and prosthetic devices for animals."

The Proposed Changes may have significant impact on the medical services industry and their vendors. We recommend involvement in the hearing process.>>> continue

COLORADO'S RECOMMENDATIONS FOR A UNIFORM SALES AND USE TAX BASE THROUGHOUT THE STATE

February 2014
Joint Efforts Made to Simplify Sales and Use Tax in Colorado

The Colorado Department of Revenue recently published its recommendations Uniform Sales and Use Tax Base Throughout the State. Some report excerpts are as follows: "Currently, Colorado has nearly 300 taxing authorities with differing sales and use tax bases, but when overlapping boundaries are taken into account, there are over 700 areas with different rates and bases. This situation produces a heavy burden on businesses operating in our state>>> continue

COLORADO STATE-COLLECTED LOCAL SALES AND USE TAX

January 2014
When Do I Have to Collect Local Taxes? What about Home-Rule Cities?

How Do I Report State-Collected Local Taxes for Multiple Locations?

Retailers are to collect all applicable taxes within the boundaries of their taxing jurisdictions. These can include sales tax for Colorado State, most counties, state-collected (“Statutory”) cities, and any applicable special districts such as the RTA, RTD and Scientific/ Cultural District and others.

If you do business including performing services, soliciting sales, delivering or installing goods, renting or leasing, etc. in other cities, counties or special districts the situation gets far more complicated!>>> continue

OUT-OF-STATE RETAILERS REPORTING REQUIREMENTS

December 2013
CO HB 10-1193 Out-of-State Retailers Reporting Requirements

Injunction Dissolved December 10, 2013 - Now What?

The Colorado Department of Revenue provided guidance in an email notice on December 19, 2013.>>> continue

OCCUPATION PRIVILEGE TAX

November 2013
Doing business in Colorado? Check for OPT!

What is it? Does it apply to me?

An Occupation Privilege Tax "OPT" is a head tax. It is generally imposed upon employees and businesses or business owners for the privilege of doing business in some Colorado Home-Rule Cities such as Aurora, Denver, Glendale, Greenwood Village, and Sheridan. OPT is often an unknown tax until and an auditor assess tax, interest and penalties. There are generally thresholds for tax on employees, but a business or business owner may have a tax imposed for each month in which that entity has any activity in a city related to its business, trade, occupation, or profession, regardless of whether a permanent location is maintained in that city.>>> continue

TAX FILING & PAYMENT RELIEF FOR FLOOD VICTIMS Updated - October 21, 2013

October 2013
Was your business affected by the floods?

The Colorado Department of Revenue will postpone filing and payment deadlines to Dec. 2, 2013 and will waive penalty and interest for all taxes for taxpayers and tax professionals directly impacted by the severe storms, flooding, landslides and mudslides during September 2013.>>> continue

BUYING OR SELLING A BUSINESS IN COLORADO

September 2013
Is the business you are purchasing current on its sales, use and other taxes?

When a business is purchased the seller must pay any sales taxes due within 10 days of the sale. The new business owner may become liable for any unpaid tax due on the sales made by the previous owner if the taxes are not remitted. Note: Discovery of seller’s errors and a prior liability through an audit of prior periods under may not occur for a number of years.>>> continue

COLORADO VOLUNTARY DISCLOSURE AGREEMENTS

August 2013
What If You Didn’t Handle Sales Tax Properly?

  • Proper sales tax not collected
  • Consumer Use Tax not remitted (Use Tax impacts nearly all businesses!)
  • Not licensed everywhere required
  • Not filing all required tax types
  • Collecting but not remitting tax – very serious!

Act quickly before the State or local home-rule cities contact you and your options are limited! But act with caution.>>> continue

COLORADO STATE SALES and USE TAX AUDITS

July 2013
What Should You Expect?

Colorado differs from most other states in that local jurisdictions can be State-collected (Statutory) or home-rule (self-administered). The Colorado Department of Revenue (DOR) is responsible for collecting and administering Colorado State sales and use tax, local sales taxes for all statutory cities, counties and special districts that impose a sales tax and various other taxes.>>> continue

COLORADO BUSINESS CONSUMER’S USE TAX

May 2013
What Is It? Does It Apply To Me?

Both businesses and individuals are to pay use tax upon purchases when a seller did not collect sales tax. Purchases made over the Internet or from out-of-state vendors that don’t have an obligation to collect sales tax for the purchaser’s state or local jurisdictions are common examples of when use tax may be owed. In Colorado, home-rule cities add to the complexity and increased obligation to self-assess, accrue and remit use tax. Note: Internet purchases are not tax free. The vendor may not have an obligation to collect sales tax, but the purchaser will likely still owe use tax.>>> continue

COLORADO - EXPANDED NEXUS PROVISIONS INTRODUCED

April 2013 - Supplemental
HB13-1312 Introduced 4/16/2013

A Bill For An Act Concerning The Circumstances Under Which A Person Who Sells Items Subject To Sales Tax Must Collect Such Sales Tax On Behalf Of The State. >>> continue

COLORADO EXTENDS SALES AND USE TAX REFUND DEADLINE

April 2013
What is the New Deadline?

The new sales and use tax refund application deadline for Colorado is three years after the 20th day of the month following the date of the purchase for sales tax refunds or following the date of initial storage, use or consumption in Colorado by the use tax refund applicant. >>> continue

DENVER SALES AND USE TAX AUDITS

March 2013
What Should You Expect?

Denver is a home-rule city and county combined that administers its own tax code and conducts its own sales and use tax audits. Taxpayers are often surprised by their assessment and by what Denver taxes. Denver’s tax code and exemptions differ from Colorado State’s code. >>> continue

SALES TO MEDICAL AND DENTAL SERVICE PROVIDERS IN COLORADO

February 2013
CO State Exempted Sales May Still Be Taxable! Beware of Use Tax!

There are several important issues for vendors of medical supplies and equipment and for medical and dental service providers to address. Colorado home-rule city exemptions often differ from the State’s exemptions. Home-rule cities have their own tax codes and commonly tax goods and services that the State exempts. >>> continue

THE MEANING OF NEXUS CONTINUES TO TRANSFORM ACROSS THE COUNTRY

February 2011
"Click Thru Nexus", Is It Here To Stay?

"Click thru nexus", also known as the Amazon bill, has been popping up in proposed and enacted legislation in states across the country; Arizona, California, Connecticut, Hawaii, Illinois, New York, Rhode Island and South Dakota just to name a few. Generally statutes presume out-of-state sellers need to collect sales and use tax when they enter into agreements with in-state residents that refer customers using Internet website links and meet minimum sales thresholds. >>> continue

Some States Have Already Announced Amnesty Programs To Take Place In 2011

January 2011
Would a state sales/use tax amnesty program benefit your company?

Many states are struggling financially and are constantly devising additional ways to increase revenue. One alternative method can be a benefit to both taxpayers and the government. It is called amnesty. Amnesty programs allow taxpayers who have past tax liabilities to come forward voluntarily and pay off their debts; in exchange the states generally waive penalties. Some states even reduce or waive interest.>>> continue

AFFILIATED NEXUS -- A HANDFUL OF STATES ARE STRETCHING THE CONSTITUTIONAL LIMITATIONS ON NEXUS FURTHER AND FURTHER WHEN IT COMES TO A SALES AND USE TAX FILING AND COLLECTION OBLIGATION FOR OUT-OF-STATE BUSINESSES. MORE STATES ARE LIKELY TO PASS SIMILAR LEGISLATION.

December 2010
Does your company do business in any of these states and is it ready to comply?

Sales and use tax filing and collection obligations are being expanded. This is partially due to today's technology advances which have lead companies to expand and change the way they market their business. Online presence is important to the financial growth of many companies. This gives companies the advantage of easily marketing their products/services to potential customers in many different states. Unfortunately, the downside is that companies' sales and use tax compliance requirements are becoming more complex, problematic, costly and time consuming.>>> continue

PERSONAL SALES AND USE TAX LIABILITY IS NOT LIMITED TO OWNERS AND OFFICERS OF A COMPANY. EMPLOYEES MAY BE DEEMED RESPONSIBLE PERSONS TOO

November 2010
Can you be held personally liable if your company is not fully complying with each State's sales and use tax laws?

A couple of months ago we sent a sales tax tip discussing how a corporate officer can be held personally liable for a company's sales and use taxes. Did you also know that an employee of a company, who is not an officer, can be held liable? States tend to cast a wide net as to whom they deem responsible for filing sales and use tax returns and it is not limited to owners and officers. A salaried employee of a company who is responsible for filing sales tax returns could potentially find themselves on the hook for his or her company's multi-million dollar sales tax liability. >>> continue

CALIFORNIA ENACTS SALES AND USE TAX EXCLUSION FOR CERTAIN GREEN INDUSTRIES

October 2010
Does your company make alternative energy source products that are beneficial to the environment?

If so and you are located in California you may be able to obtain an exclusion from sales and use tax when making purchases of certain equipment. On March 24, 2010, the Governor of California signed SB 71 into law. This bill allows certain manufacturers of green technology to purchase manufacturing equipment without the payment of California Sales and Use tax. However, in order to obtain the exemption, the manufacturer must apply and pay a fee to the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) and meet certain criteria.>>> continue

NEW YORK STATE CHANGES POLICY REGARDING INFORMATION SERVICES

September 2010
Does this change affect your business?

New York State recently changed its policy in regards to the sale of public documents. The state wrote an advisory opinion in 2004 articulating that the sale of public documents was subject to sales tax. However, the state has allowed businesses to rely on advisory opinions that predated the 2004 opinion. This policy has changed effective September 1, 2010 and all sales of public documents will now be subject to sales tax.>>> continue

OFFICER OF A COMPANY CAN BE HELD PERSONALLY LIABLE

August 2010
Did you know that officers and members of a company can be held personally liable for their company's sales and use tax liabilities?

When starting a business, careful attention is usually given to the type of entity being formed. . The right business entity can prevent personal assets of owners and officers from being seized and sold to pay business liabilities. However, this is not always the case. Some liabilities such as sales and use tax liabilities have been personally assessed to the owners and officers of the companies to which the assessments were made. However, this doesn't have to be the only option.>>> continue

A SALES TAX MATRIX: A WISE INVESTMENT

July 2010
Are You Driving Your Sales/Use Tax Compliance Process Through The Rear View Mirror And Unknowingly About To Go Over A Cliff?

Many companies are not aware that they may have sales and use tax liability exposure because they are unaware of jurisdictional rules. These unknown or undiscovered liabilities accrue interest and penalties, making a bad situation worse. Corporate officers may be held personally accountable for these liabilities. However, this does not have to happen.>>> continue

BEWARE OF MOORING YOUR BOAT IN NEW YORK

June 2010
Did you know that mooring or bringing your boat in to New York for repairs or sale can cause some unforeseen tax and/or assessment defense expenses?

Spring has sprung and New York, like other states, is hungry for money. It is boating season. New York has in the past and will likely in the future send sales tax auditors out to various marinas in search of vessel owners who have not paid New York's sales and use taxes. An unprepared boat owner may find themselves defending against a costly tax assessment.>>> continue

SALES & USE TAX AMNESTY

May 2010
Did you Know Many States Offer Amnesty Programs Periodically?

These programs help raise revenue for the state and also provide benefits to the taxpayer. Amnesty programs generally allow taxpayers who have failed to file various business returns or who have under reported on returns an opportunity to come forward voluntarily and rectify the tax deficiency. In return the state will not press criminal charges and will waive penalties. Some states will even waive a portion or all of the interest in return for coming forward.>>> continue

RENTING OR LEASING PROPERTY CAN TRIGGER NEXUS

October 2009
Do You Rent or Lease Property? Is Sales or Use Tax Handled Properly When the Property Is Moved Around?

Lessors, Are You Registered and Collecting Tax Where You Have Leased Property Located?

For Lessors, the location of their leased property triggers Nexus - a requirement to register, collect and remit sales tax in behalf of the taxing jurisdictions the property is located in. This often involves multiple jurisdictions when leased property is moved around. For those renting or leasing the property, such rentals are often taxable. Moving the property across jurisdictional borders can trigger differing sales and use tax obligations.>>> continue

SALES TAX - COMPUTER HARDWARE & SOFTWARE MAINTENANCE CONTRACTS

August 2009
Are the Services Maintenance, Repairs or Support? Are the Contracts Taxable? Are they Mandatory or Optional? Are the Parts Used Taxable?

Whether you are a purchaser or a seller of computer hardware or software maintenance contracts, these are some of the hot issues in determining taxability as states catch up to technology and reach farther for tax dollars.

Five key areas in determining taxability are: >>> continue

SALES TAX - WHAT YOUR ACCOUNTANT NEEDS TO ASK

July 2009
Is Your Business New or Growing? - Are Sales and Use Tax Properly Covered? - Are You Keeping Up on Registrations, Taxability and Exemptions?

Sales tax issues affect personnel in Accounting, Accounts Receivable, Accounts Payable, Billing, IT, Purchasing, Tax and various other departments including management/ownership. A proper understanding of Sales & Use Tax laws and the associated procedures will help ensure the business' success, minimization of the compliance burden, and reduced risk of personal liability assessments. >>> continue

WHAT CONSTRUCTION CONTRACTORS AND SUBS NEED TO KNOW

June 2009
Is it a capital improvement? When do we pay tax? Do we charge tax?

Many states provide sales and use tax exemptions for capital improvements. However, depending on the state, a contractor may be required to pay sales tax when purchasing materials. Alternatively, they may be allowed to use a resale or similar exemption certificate and then collect tax from their customers on materials. Further, labor charges may or may not be taxable, and it may depend on the type of project the construction contractor is completing. >>> continue

DEALING WITH LOCAL SALES AND USE TAX

May 2009
We follow the state's rules. Why worry about local sales and use tax?

There are a number of reasons to be concerned about local sales and use tax issues. Local home-rule jurisdictions often vary from the state in their laws, administration and enforcement. Even when the laws are the same, rates vary and special districts or enterprise zones rules further complicate compliance. Additionally, business use tax has become a significant area of audit focus. >>> continue

SALES TAX - PASS IT ON!

April 2009
You collect sales tax, but you're short on cash. Don't get tempted to use the funds for your own business expenses!

These are trying times for many businesses. Cash and credit are in short supply. Sales tax revenues collected on behalf of taxing jurisdictions may seem like a tempting source of available funds to manage immediate operating needs.

Our advice? Don't even think about it! >>> continue

SALES & USE TAX MANUFACTURING EXEMPTIONS

March 2009
Manufacturers are you missing exemptions? Not a manufacturer? This may still be for you!
Many exemptions are often available to traditional manufacturers and to non-traditional manufacturers, such as retailers, as well. However, exemptions are often missed due to varied state and local laws and exemption qualifiers. Additionally, companies may not see themselves as manufacturers and miss exemptions for certain non-traditional aspects of manufacturing.

Careful analysis of the definitions and wording of states' laws and regulations will help you avoid missing exemptions and paying more tax than legally due. >>> continue

SALES AND USE TAX FOR SERVICE PROVIDERS AND PROFESSIONALS

February 2009
My Company's Services aren't Taxable. Why Worry about Sales or Use Tax?
Professional and personal services are not subject to sales tax in many states. However, even if a company's services are not taxable, the company may still be required to register, collect and remit sales tax or self assess and remit use tax. >>>
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SALES TAX REFUNDS

January 2009
Sales Tax Refunds and Overpayment Prevention can Really Pay Off!
As many businesses find themselves struggling in today's economy, obtaining Sales and Use Tax refunds can be more vital than ever. Perhaps of even greater importance is the prevention of further overpayment cash drains by addressing and correcting the underlying problems leading to overpayments. Reviewing books, records, invoices, available exemptions, current Sales and Use Tax compliance procedures and alternatives allowing qualification for other exemptions can really pay off! >>>
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NY RETURN MAILING ERROR

December 2008
New York Announces Sales & Use Tax Return Mailing Error
The New York Department of Taxation and Finance has announced that due to an error in the mailing of certain sales tax returns due on December 22, 2008, vendors that normally file Form ST-102, New York State and Local Quarterly Sales and Use Tax Return for a Single Jurisdiction, did not receive a return due to be filed by December 22, 2008. >>>
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E-COMMERCE NEXUS

November 2008
U.S. Senate Bill Proposes Physical Presence Nexus Standard for E-Commerce
Under proposed Federal legislation, without a physical presence in a state an entity could not be required to collect or remit a state tax resulting from that entity's electronic commerce. This is in direct contrast to a recently enacted New York statutory provision that requires out-of-state Internet retailers with no physical presence in New York to collect and pay New York sales and use taxes on goods purchased by New York residents >>>
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SALES TAX ON CONTRACTORS

October 2008
Construction: Is Sales Tax Required? Who Is Responsible?
These are common questions in this complicated area of Sales & Use Tax. The answers often depend upon a variety of factors such as: >>>
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OFFERS-IN-COMPROMISE

September 2008
Assessed But Can't Pay? Now What?
Offers-in-Compromise can be an effective means of exposure resolution in various states, but key criteria generally need to be met to qualify. Being properly informed ahead of time can help lead to a successful outcome. >>>
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FIDUCIARY RESPONSIBILITY/ PERSONAL LIABILITY

July 2008
Did you know, you cannot delegate away your responsibility or personal liability?
Whether you collected or not, you can be held personally liable for sales and use taxes plus the related interest and penalties >>>
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RECENT NEW YORK INTERNET TAX TRIGGERS CONSTITUTIONAL CHALLENGES

June 2008
Is This A Quill vs. North Dakota Nexus Challenge All Over Again?
Amazon.com and Overstock.com have both initiated challenges to a recently enacted New York statutory provision that requires out-of-state Internet retailers with no physical presence in New York to collect and pay New York sales and use taxes on goods purchased by New York residents >>>
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ARE YOU REGISTERED EVERYWHERE YOU NEED TO BE?

May 2008
How Would You Know If You Have Other Sales Tax Registration Obligations? What's The Risk?
Businesses grow and expand. Sales Tax laws change frequently. Many companies end up having unrecognized Sales & Use Tax registration obligations, significant hidden monetary and personal liability, potential Sales Tax refunds, and possible missed savings opportunities due to unrecognized state and local Sales Tax exemptions and/or exclusions. Consider a Diagnostic Review. >>>
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PENALTIES & INTEREST - Staggering Amounts!

April 2008
Made a Mistake or Didn't Collect or Remit Properly? - There's more at stake than just Sales and Use Tax!
Penalties and interest are usually assessed in addition to any taxes deemed as due. They can quickly accumulate to staggering figures and jeopardize a business' ability to survive. The problems are often compounded because the underlying failure to properly charge, collect or remit sales or use tax has been ongoing for years. >>>
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SALES TAX NEXUS - Ignore it if you dare!

March 2008
What Is Nexus and Why Should I Be Concerned?
Certain business activities can render you responsible to collect and remit sales tax for other states or local jurisdictions. Failure to do so can leave your company and you personally liable for taxes, interest and penalties. >>>
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Why Concern Yourself With Use Tax?

February 2008
What Is Use Tax And How Does It Differ From Sales Tax?
Sales Tax is typically imposed on sales of taxable products or service that occur entirely within a state. Use Tax is typically imposed on the use of a taxable product or on benefit derived from a taxable service. Use Tax typically applies to transactions that would have been subject to Sales Tax if the sale had occurred in the tax imposing state. The primary purpose of Use Tax is to prevent purchasers from avoiding Sales Tax through making out-of-state purchases.

Out-of-state vendors are typically required to collect Use Tax when they ship purchased products into a tax imposing state but only if they have physical presence in the destination state. Purchasers are, however, typically required to self-assess Use Tax if the vendor does not collect applicable Sales or Use Tax. They are also typically required to self-assess Use Tax when they purchase goods outside the state and subsequently bring such goods into the state for taxable use.

Why be concerned?
There are a number of reasons to be concerned with and informed about Sales & Use Tax issues. We've listed some of the issues below: >>>
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Why Concern Yourself With Sales Tax?

January 2008
What Is Sales Tax And What Is It Typically Imposed On?
Currently, 45 states, Puerto Rico and the District of Columbia impose a Sales, Use or similar tax. As a general rule, Sales Tax is a tax imposed on sales of tangible personal property and specifically enumerated services. The enumerated services vary by state and in some cases by local jurisdiction. In most cases, state Sales or Use Tax applies if delivery to the customer occurs in the state. In the case of service, Sales Tax typically applies if the benefit of the service is derived in the state.

Why be concerned?
There are a number of reasons to be concerned with and informed about Sales & Use Tax issues. We've listed some of the issues below: >>>
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New York Steps-Up Search for Tax Cheats'

December 2007
Aggressive campaign may snag companies making unintentional errors.
In a significant policy change, the State Tax Department under Governor Spitzer has vowed to beef up its commitment to tax enforcement as an essential part of its strategy to close New York's multi-billion dollar tax gap -- the gap between taxes collected and the taxes actually owed. The state has created locally based special investigation units to work with state and local prosecutors looking for taxpayers who may have engaged in tax fraud. Among other taxes the state will begin investigating credits and deductions and looking for taxpayers who have not remitted the trust fund sales and use taxes they've collected. The State has partnered up with many state and local prosecutors in the fight. >>>
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Taxing Internet Sales - New Law Provides Extension/ Revision of the Internet Moratorium What Is It and How Does It Affect Me?

November 2007
Internet Sales: The Myth - Internet Sales Are Not Taxable.
The reality is that Internet Sales are usually taxable through either seller collected Sales Tax or through a state's compensating Use Tax. Problems arise when a business' activities trigger nexus and a requirement to collect Sales & Use Tax for other states. Whether the obligation is ignored or unknown, Internet Sellers can subject themselves to owing the tax they should have collected, plus interest and penalties. Though an out-of-state seller may not be required to collect Sales or Use Tax, businesses and individuals who purchase tangible personal property or taxable services via the Internet may find themselves subject to unexpected Use Tax assessments, plus penalties and interest if not paid on time. >>>
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Business Growing? - A Sales Tax "Company Check-up" Can Really Payoff

October 2007
Sales & Use Tax Diagnostic Review
Why Should A Company Conduct A Diagnostic Review?
Companies that operate in multiple states or have experienced rapid growth often do not have the time or resources to be sure they are complying with the various tax laws in each state. In addition, most states' statutes and regulations are convoluted and confusing. This results in many companies having unrecognized Sales & Use Tax liabilities, potential Sales Tax refunds, and possible savings opportunities due to unrecognized state and local Sales Tax exemptions and/or exclusions. >>>
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Mergers & Acquisitions - Limited Successor Liability for Buyers; A Fair Price for Sellers.

September 2007
Mergers & Acquisitions - Limited Successor Liability for Buyers; A Fair Price for Sellers. Purchase contracts alone can be insufficient to protect against successor liability, leaving the purchaser with tax assessments that can reach millions of dollars.
Buyers and sellers both face the potentially costly risks of unknown tax liabilities affecting the transaction. >>>
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Sales Tax Audits - Are you prepared?

August 2007
Sales Tax Audits - Are you prepared? Dealing with a Sales Tax audit can be intimidating and full of costly pitfalls. However, with proper representation, you can walk away from an audit with a favorable outcome. >>>
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Understanding The New Puerto Rico Sales Tax

July 2007
Understanding The New Puerto Rico Sales Tax. Although the recently enacted Sales and Use Tax law in Puerto Rico is more than eight months old, there is still a lot of uncertainty as to how companies should proceed. >>>
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Sales Tax Amnesty Expires. What Now?

June 2007
Sales Tax Amnesty Expires. What Now? On May 31, a one-time Streamlined Sales Tax amnesty expired in 10 states: Indiana, Iowa, Kansas, Kentucky, Minnesota, New Jersey, North Dakota, Oklahoma, South Dakota, and West Virginia. >>>
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Making Construction Issues Less Taxing

May 2007
Making Construction Issues Less Taxing. Is Sales Tax required? Who is responsible? These are common questions in this complicated area of Sales & Use Tax. The answers often depend upon a variety of factors. >>>
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Rare Break By States Ending Soon

April 2007
Rare Break By States Ending Soon. Whether due to growth, sales force expansion, or the ever increasing popularity of Internet sales and purchasing, many companies have extended their reach into additional states. >>>
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Filing A Return Limits Look-Back

March 2007
Filing A Return Limits Look-Back. When it comes to Sales Tax, there's one consideration all businesses should make a priority - properly register and file Sales & Use Tax returns. Whether intentional or unintentional, the financial consequences of not filing when required to do so can be enormous. >>>
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This web site and the information contained therein is intended to provide general information only, and is not to be considered as a substitute for accounting, consulting, investment, legal, tax, or other professional advice or services. Should you have questions or require further assistance please contact an Sales Tax Colorado Sales and Use Tax specialist.