Learn how states define and tax TPP.
Tangible personal property, or TPP, is any personal property that can be seen, weighed, measured, felt, or touched. TPP typically does not include real property, however, some states do have sales tax on real estate transactions. The streamlined sales tax project was originally started to ease the burden of compliance to simplify sales tax rates, have a uniform tax base, sourcing roles, definitions, and overall administration of sales and use taxes. The SSTP sees TPP as personal property that includes electricity, water, gas, steam, and prewritten computer software. This video reviews services and tangible processes that are considered TPP and discusses what has changed since the Wayfair decision.
Agenda
Faculty
Daniel Thompson, CPA, CMI
Thompson Tax & Associates, LLC
- President of Thompson Tax & Associates, LLC and founded the company in 2002
- 40 years of sales/use tax experience in both government and public accounting
- Adjunct professor lectures on taxation at Golden Gate University’s State and Local Tax Program
- Member of the American Institute of CPAs, the California Society of CPAs, and the Institute for Professionals in Taxation (IPT)
- Served as chairman of the California Society of CPAs Sales and Use Tax Symposium
- Founding member of the Independent SALT Alliance (ISA)
- B.S. degree in accounting, California State University, Long Beach
- Can be contacted at [email protected]
Adam Giera, CMI
Thompson Tax & Associates, LLC
- Vice president and Chief Information Officer, Thompson Tax & Associates, LLC
- Started with Thompson Tax in 2010
- Works with the firm’s consulting practice addressing taxability matrices, reverse audits, audit defense, M&A, due diligence, and nexus
- Co-wrote California article in ABA Tax Times
- Member of the Institute for Professionals in Taxation (IPT)
- B.A. degree, Northern Illinois University
- Can be contacted at [email protected]
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