Use Tax – Why it’s important to you! The 2017 International Radon Symposium™

Use Tax – Why it’s important to you! What is Use Tax? *The use tax is imposed on consumers of tangible personal property that is used, consumed, or stored in their state. Consumer's use tax applies to purchases from out-of-state vendors that are not required to collect tax on their sales.  * SalesTaxInstitue.com The 2017 International Radon Symposium™

Use Tax – Why it’s important to you! Example A Massachusetts company purchases a tangible product from a vendor in New York. The Vendor in New York does not charge Mass Sales Tax on Purchase. The goods are then “used” in the state of Massachusetts. This triggers a “Use Tax” liability. The 2017 International Radon Symposium™

Use Tax – Why it’s important to you! Nexus Nexus is just a fancy word for “presence”. If a company has presence in a state, that qualifies for nexus. Presence can be an employee, office, distribution center, or warehouse. If a company does not have nexus in your state, they are not required to charge sales tax on sales to businesses in that state. The 2017 International Radon Symposium™

Use Tax – Why it’s important to you! What if I’m audited? The 2017 International Radon Symposium™

Use Tax – Why it’s important to you! Tips for a successful audit Have everything they ask for. Be Organized Schedule on Friday’s! Questions? The 2017 International Radon Symposium™