Sales Tax Issues for Rental and Lease Transactions: Tangible vs. Intangible, Sourcing, Tax Elections, Exemptions
State Tax Rules, Accurately Reporting Sales Tax, Maintaining Compliance for Certain Assets
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax professionals and advisers an in-depth analysis of state sales tax treatment of lease, purchase, and finance transactions for certain assets. The panel will discuss the taxation of tangible versus intangible property, sourcing rules for leases, available tax elections, exemptions, and some state-specific examples.
- Overview of state tax rules for rental and lease transactions
- Determining what constitutes a rental or lease of property
- Tangible vs. intangible property
- Sourcing rules, tax elections, and exemptions
- Recent state developments
- Best practices for reporting and maintaining compliance
The panel will discuss these and other crucial issues:
- What constitutes a rental or lease of property for sales tax purposes?
- How is sales tax paid on rentals or leases of tangible personal property?
- How does the application of sales tax to rental or leased property differ in certain states?
- Are there any exemptions available for certain transactions?
- How can taxpayers maintain state sales tax compliance and accurate reporting?
Stacey L. Roberts, CPA
State and Local Tax Director
Ms. Roberts has been making SALT less taxing for thousands of businesses over the last 25 years. As a director of the... | Read More
Ms. Roberts has been making SALT less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she is at the table-and in the weeds-helping guide dynamic businesses through compliance and strategic planning that minimizes risk and strengthens tax positions. She entered accounting with Andersen Worldwide/Andersen LLP, where she honed her state and local tax experience. She added stints at KPMG and Deloitte before moving in-house with a Fortune 500 company, managing State and Local Tax Administration. Before joining TaxOps, she led the national SALT practice at a regional firm. Stacey is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker and author on SALT issues for industry and professional organizations, including the Journal of State Taxation, Strafford Publishing, and more.Close
Judith B. Vorndran, JD, CPA, MSBA
Ms. Vorndran helps clients and tax professionals navigate the morass of state and local tax issues with the goal of... | Read More
Ms. Vorndran helps clients and tax professionals navigate the morass of state and local tax issues with the goal of making it less “taxing!” She is a nationally recognized thought leader and award-winning instructor with a steady focus on finding ways to simplify complex state and local tax issues and resolve areas of state tax controversy.Close