Tax

Understanding how to correctly account for sales and/or use tax is crucial in order to be in compliance with state tax laws. Sales tax is a tax levied on the sale of a good or service and is collected by the seller. Use tax is complementary to sales tax on the use, storage or consumption of tangible personal property. If sales tax is not billed by the seller, the purchaser is required to accrue tax at the time material is consumed.

State Tax Forms provided by Federation of Tax Administrators : This will link you to each state and the tax forms used - Click Here

Council of State Taxation (COST): COST's objectives are to preserve and promote equitable and nondiscriminatory state and local taxation of multijurisdictional business entities - See More

Property Tax is considered to be a tax on property measured by the property's value as of a specified date. Because this type of tax is assessed according to the value of the property, it is commonly referred to as an ad valorem tax. A property tax can be considered a direct tax that it applies to the property itself. This is why it is important to perform routine physical inventories as required by your SOC policy. Even a fully depreciated asset with no book value has a taxable value.

Assisting you with EU Vat Guidance, you can click on this link to learn about the latest updates- Click Here

A State Annual Report is a yearly or bi-annual statement that must be filed with the individual state’s Secretary of State. The Annual Report is a form that shows the company name, principal office address, registered agent, registered office address and a list of the current officers and directors or members and managers. This is not the comprehensive report on a company's activities throughout the preceding year that is intended to give shareholders information about the company's activities and financial performance.

Why must State Annual Reports be filed? To assist the Secretary of State in providing the most accurate information to the public about companies conducting business in the state. Failure to file may result in Siemens' ability to conduct business in that State to be revoked.

From Audit Consulting Web Based Training, to Avalara CertCapture, we offer you training in a variety of tax topics including but not limited to Property Tax, Infrastructure Logistics, Business License Basics and E-form training to Outgoing W-9 Web Based training. See the section below for a full list of training opportunities offered.

VAT Training Training: Learn about Audit Consulting at your own page - Start Learning

Property is considered unclaimed or abandoned if it is held/issued in the ordinary course of the holder’s business. Or if it constitutes a debt or obligation of the holder to a creditor/owner. It can also be considered unclaimed if it remains unclaimed for more than the statutory dormancy period (determined by the property type and by each state).

Business licenses are permits issued by government agencies that allow individuals or companies to conduct business within the government’s geographical jurisdiction. A single jurisdiction often requires multiple licenses that are issued by multiple government departments and agencies. Business licenses vary between countries, states and local municipalities. There are often many licenses, registrations and certifications required to conduct a business in a single location.