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Author: John C. Healy, MST, CPA, Michael S. Schadewald, PhD, CPA
Description:
This course discusses sales and use tax liabilities and exemptions related to construction contractors and manufacturers.
Generally, contractors can act as either retailers or consumers, depending on the nature of the work involved in a particular project. This course explains how these varying roles affect sales and use tax liability and how contractors can avoid incurring unnecessary or unwarranted tax liabilities that cannot be passed along to their customers.
State statutes often grant sales and use tax exemptions or reduced rates for manufacturing machinery and equipment as an incentive for manufacturers to relocate to, expand in, or remain in a state.
This course explores available exemptions for manufacturing equipment and the requirements for eligibility. It also discusses the treatment of materials and labor used in the production process and the tax implications of inventory withdrawals.
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Course Details:
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Price: $32.00
Field of Study: Taxes
Prerequisites: Sales and Use Tax: Tax Base course or equivalent knowledge
Level: Basic
Advanced Preparation: None
CTEC course number: 1075-CE-5500
Course was last updated on: 02/02/09
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Library:
Sales and Use Taxation
State Taxation
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
2.0 CPE |
| QAS |
2.0 CPE |
| Enrolled Agent (Accepted by the IRS) |
2.0 CPE |
| CTEC California |
2.0 CE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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