Self-Study
Sales and Use Tax Accounting
Sales and use tax accounting essentials for reporting methods, audit preparation, and financial statement presentation. Reduce risk and ensure compliance in your profession.
$58.00 – $78.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course is designed to keep a business compliant with local sales and use tax regulations, thereby avoiding expensive fines and penalties. It does so by noting when sales and use taxes should be applied to a transaction and how to calculate and pay those taxes. The course also covers many special situations, such as sales tax exemptions, dealing with over- or under-collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit. It also addresses economic nexus, which requires that sellers collect sales taxes for sales made into other states. This course is an essential tool for the proper application of sales and use taxes within an organization.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the methods used to remit sales taxes to a government.
- Specify the different requirements for obtaining a sales tax license.
- Recognize the rules for how and when to charge sales tax.
- Recall the proper accounting to be used for all types of sales tax transactions.
- Specify the proper presentation of sales tax liabilities in the financial statements.
- Identify the correct treatment of over- and under-collections of sales taxes.
- Recall the excuses that may be accepted for not submitting a sales tax return.
- Specify the key characteristics of a private letter ruling.
- Recall how a multiple points of use certificate is to be used.
- Identify the situations in which use tax is to be paid.
Course Specifics
1173463
April 2, 2025
There are no prerequisites.
None
61
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
QAS Self-Study
