NYS sales tax law. Because of this, as a general rule, if you are a contractor you must pay sales tax on your purchases of building materials, for both Repairs and Capital Improvements, unless an exemption applies. The most common exemption is the purchase of building materials for tax exempt entities.
This seemingly simple concept can create havoc for the contractor, as it affects your contract bidding, billing your customers, the need to ask for credits and refunds from NYS, and the paying of use tax for out-of-state purchases. The rules are confusing and hard to follow, and often seem counter-intuitive.
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John Fontanella, CPA, CCIFP is a tax principle with The Bonadio Group, CPAs, Consultants & More. His practice emphasizes all aspects of sales and income taxes, with more than 30 years of experience in offering technical advisory services. Mr. Fontanella conducts regular seminars and workshops on numerous sales and income tax issues, including specializing in tax planning for contractors, manufacturers, professional engineers and auto dealerships. He is the author of several publications related to the areas of sales tax for contractors and manufacturers.
Agenda
Faculty
John Fontanella, CPA, CCIFP
The Bonadio Group-CPAs Consultants & More
- Tax principle with The Bonadio Group, CPAs, Consultants & More
- Practice emphasizes all aspects of sales and income taxes, with more than 30 years of experience in offering technical advisory services
- Conducts regular seminars and workshops on numerous sales and income tax issues, including specializing in tax planning for contractors, manufacturers, professional engineers and auto dealerships
- Author of several publications related to the areas of sales tax for contractors and manufacturers
- B.S. degree from LeMoyne College, Syracuse, NY
- Can be contacted at [email protected] or (315)214-2724
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