New York Sales & Use Tax Answer Book (2013)

Author: Scott A. Taub   CPA  

Publisher: CCH‎

Publication year: 2012

E-ISBN: 9780808032427

Subject: F8 Finances

Keyword: Tax and Accounting

Language: ENG

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New York Sales & Use Tax Answer Book (2013)

Description

Now available as an eBook, The New York State Sales and Use Tax Answer Book is the indispensible reference source for which practitioners have been searching. Not only does it clearly and comprehensively cover the spectrum of statutes, regulations and legal rulings governing New Yorks sales and use tax, it also brims with practical guidance and examples to illustrate the real-world application of the rules. All facets of sales and use tax are addressed, from the developing issues of what creates constitutional “nexus” and how the tax applies to e-commerce, to the more technical questions of what exemptions and credits are provided for; what obligations are imposed on vendors for registering, reporting, collecting and remitting tax, and how tax may determined and assessed on audit. The New York Sales and Use Tax Answer Book provides easy-to-use coverage of all relevant areas, including: who is subject to the tax; what property and services may be taxed; how the tax is collected; the methodologies employed in sales and use tax audits; the rules applicable to contractors and Industrial Development Agencies; the tax consequences of buying or selling a business; the rules applicable to New York City and the Metropolitan Commuter Transportation District, and the penalties imposed for various forms of noncompliance. The New York Sales and Use Tax Answer Book goes beyond merely summarizing the relevant statutory and regulatory language, by providing extensive “Planning Points,” offering practical insight on the application and interpretation of sales and use tax rules; detailed commentary on how sales tax audits are conducted, how tax deficiencies are assessed, and the rights and procedures in place for challenging an assessment; and extensive citation to case law and advisory rulings in each area of the law, demonstrating the application and interpretation of the rules across a broad range of fact patterns.

Chapter

CHAPTER 1 General Principles & Definitions (20 NYCRR §§525 and 526)

Overview

Use Tax

Receipts

Retail Sales

Corporate & Partnership Transactions

Sales

Tangible Personal Property

Vendors

CHAPTER 2 Taxable Transactions (20 NYCRR §527)

Overview

Sales of Property and Services

Food and Drink

Hotel Occupancy

Admissions Charges and Dues

CHAPTER 3 Exemptions (20 NYCRR §528)

CHAPTER 4 Exempt Organizations (20 NYCRR §529)

Overview

Exempt New York State Governmental Entities

Exempt Federal Entities

United Nations, International Organizations, Diplomatic Missions

Charitable Organizations

Veteran’s Organizations

Indian Nations and Tribes

Application of Exempt Organization Provisions to Agents

Special Rules for Contractors

Special Rules for Industrial Development Agencies

CHAPTER 5 Compensating Use Tax (20 NYCRR §531)

Overview

Applicability to Manufacturers

Aircrafts, Vessels and Motor Vehicles

Exemptions

Reporting

CHAPTER 6 Collection of Tax (20 NYCRR §532)

Charging, Collecting and Remitting

Liability of Responsible Persons/Officers

Obligations Regarding Exempt Sales

CHAPTER 7 Refunds and Credits (20 NYCRR §534)

CHAPTER 8 Assessment and Review (20 NYCRR §535 & 20 NYCRR §3000)

Assessment of Tax

Appealing an Assessment

CHAPTER 9 Sales and Use Tax Audits

Overview

The Start of an Audit

Scope of Audit Review

Audit of Sales

Audit of Recurring Expenses

Audit of Fixed Assets

Other Audit Issues

CHAPTER 10 Penalties and Interest (Tax Law §1145; 20 NYCRR §§536, 2391)

Overview

Failure to Timely File Returns or Pay Tax; Substantial Underreporting

Failure to Maintain Adequate Records

Certificates of Authority and Other Vendor Obligations

Resale Certificates and Other Documents

Penalty Abatement and Reasonable Cause

Miscellaneous Penalties

Criminal Penalties

CHAPTER 11 Bulk Sales (20 NYCRR §537)

Overview

CHAPTER 12 Nexus and E-Commerce (NY Tax Law §1101(b)(8); 20 NYCRR §526.10)

Overview

General Concepts

Nexus for Out-of-State Vendors

E-Commerce Considerations

CHAPTER 13 Vendor Registration and Obligations (20 NYCRR §§533, 539)

Overview

Record-Keeping Requirements

Filing Returns

CHAPTER 14 Contractors (20 NYCRR §541)

Overview

Capital Improvements

Exempt Organizations

Other Issues

CHAPTER 15 Industrial Development Agencies (NY General Municipal Law §874; 20 NYCRR §542)

Overview

CHAPTER 16 New York City Sales Taxes

Overview

Index

A

B

C

D

E

F

G

H

I

J

K

L

M

N

O

P

Q

R

S

T

U

V

W

X

Y

Z

Back Cover

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