Beware the slippery slope of sales tax

• Autores: Shane Ratigan
• Localización: Strategic Finance, ISSN-e 1524-833X, Vol. 96, Nº. 5, 2014, págs. 41-45
• Idioma: inglés
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• Resumen

  • The article examines accounting of sales tax revenue by corporations. The likelihood a corporation will face a tax audit from one or more U.S. states seeking sales tax revenue is discussed. Means by which accountants can prepare for such an audit are discussed including establishing the company's nexus, which jurisdictions it is subject to sales tax law, familiarity with changes in products and services subject to sales tax and proper remitting of sales tax revenue.