Tax accrual systems need to be put in place for purchases. Which shouldn’t be complicated but must be done.
Sales tax and use tax are often referenced together as they often work together. Usually sales tax and use tax are imposed on the same body of taxable items. Sales tax is collected by the seller and reported and remitted to the state taxing authority; and use tax is going to be the counter of that. The reason why there is use tax has been to compliment the sales tax in transactions where they seller was not required to collect. The use tax gets imposed on the use of taxable items within a particular state or tax jurisdiction. This video provides an overview of sales and use tax and constitutional issues.
Christina A. Mondrik, Esq., CPA
Mondrik & Associates
- Founder of Mondrik & Associates, www.mondriklaw.com
- Board certified, tax law, Texas Board of Legal Specialization
- Represents taxpayers in resolving state and federal tax controversies and litigation
- 2019 - 2020 chair, Tax Section, State Bar of Texas
- J.D. degree, with honors, University of Texas School of Law; B.B.A. degree, accounting, University of Texas
- Can be contacted at 512-542-9300 or [email protected]
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