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Sales and Use Tax in New York

Gain a better understanding of your sales and use tax obligations in New York.

Make no mistake: to cash-hungry tax authorities, your business represents a revenue stream, plain and simple. Their job is to maximize that stream, and a sales tax audit is one of their primary tools. In a sales tax audit, an auditor reviews your business records to determine whether you are underreporting taxes that are legally due. In addition to the costly time, effort and diversion of resources, the resulting penalties can be substantial. To you, that's an unexpected hit to your profits; to the state it's "found money." This topic will explore ways to reduce the risk of being audited, minimize the economic impact of an audit, and cut the costs of compliance and defending your sales tax positions. Preparing proper documentation will streamline the audit process and help avoid audit sampling methods that may be to your disadvantage. Understanding the ins and outs of sales tax applicability, exemption and resale certificates, can keep you away from trouble. Finally, too often the goals in sales tax compliance are focused on making sure that enough tax has been paid. An analysis of your sales tax procedures may reveal that you are actually paying too much tax.

Runtime: 104 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Sales Tax Responsibilities

  • Responsible Party
  • Sales Tax Record Keeping
  • Fines and Penalties

Handling a NY Audit

  • NY Audit Procedures
  • Selecting a Sample Size
  • Are Your Records Able to Handle an Audit?

Contractors/Manufacturers

  • Specific Issues
  • Exempt or Taxable?
  • Claiming Refunds
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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Online Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

John Fontanella, CPA, CCIFP

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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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 397734
Published 2011, 2016, 2017
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