Use Landscape to see Search/Filter
Item Types:
Field of Study:
CPE Hours:
Hide left panel Collapse Menu
Recent Searches
No recent searches found.
Course Details

Sales and Use Tax Accounting (Course Id 1208)

New / QAS / Registry
Author : Steven Bragg, CPA
Status : Production
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1208

Description :

The Sales and Use Tax Accounting course discusses when sales and use taxes should be applied to a transaction. The course addresses the calculation of these taxes, when exemptions may apply, how to remit tax receipts to the government, and how to present the related tax liability in the financial statements. The course also covers many special situations, such as dealing with over- or under-collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 29-Apr-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1208

Keywords : Accounting, 1040, sales, and, use, tax, accounting, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Identify the methods used to remit sales taxes to a government.
  • Note 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.
  • Note 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.
  • Note 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 Contents :

Chapter 1 - Sales and Use Tax Accounting

What are Sales and Use Taxes?

What is Tangible Personal Property?

What are Taxable Services?

Sales Tax License

Sales Tax Calculation

Sales Tax Accounting

Cash or Accrual Basis Accounting

Sales Taxes Liability Account

Sales Tax Presentation

Account Reconciliation

Sales Tax Remittances

Over-Collected Sales Tax

Under-Collected Sales Tax

Late Filing Penalties and Interest

Response to Notice of Non-Filing

Sales Tax Nexus

Tax Remittances Required Under Nexus

Nexus Avoidance

Sales Tax Exemptions

Private Letter Rulings

Sales Tax Exemption Certificates

Multiple Points of Use Certificate

Sales Tax Holidays

Special Situations

Streamlined Sales and Use Tax Agreement

Use Tax

Additional Use Tax Issues

Buying and Selling a Business

Sales Tax Audits

Errors in Compliance

Audit Best Practices

Planning Topics

Behavior Topics

Prevention Topics

Reverse Audits

Additional Sales and Use Tax Topics




Review Questions


Accounting Course 1208 Home: https://www.cpethink.com/accounting-cpa-courses
Thank you for taking one of our free courses. Please select “Ok” so that we and the author can let you know about other free courses and special offers. If not please reply "No Thanks". Either way enjoy your free CPE course!
Exam completed on .

Do you want to add the course again?