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
A live 110-minute CPE webinar with interactive Q&A
This webinar 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.
Outline
- 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
Benefits
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?
Faculty
Stacey L. Roberts, CPA
State and Local Tax Director
TaxOps
Ms. Roberts finds the singular state and local tax (SALT) area fascinating and is energized by the daily challenges to... | Read More
Ms. Roberts finds the singular state and local tax (SALT) area fascinating and is energized by the daily challenges to design solutions that improve business tax outcomes. With 20+ years of public and private sector accounting experience, both practical and in management, she’s gained the essential business acumen necessary to be a key advisor to clients. Ms. Roberts works closely with business clients managing all compliance issues related to state income/franchise, state and local sales and use, real and personal property and unclaimed property taxes for flow through entities and C corporations; identifying planning opportunities and state and local credits and incentives; and, mitigating state and local tax controversy issues with auditors and taxing jurisdictions.
Stacey began her career with Andersen Worldwide/Andersen LLP, where she began to hone her state and local tax experience. She added stints at KPMG and Deloitte before moving in-house with Ball Corporation as their manager of State and Local Tax Administration. An interlude with a regional tax firm followed before Stacey joined TaxOps. Ms. Roberts is a frequent speaker and author on SALT issues for industry and professional organizations including the Denver Tax Institute, Product PowerUp, NowCFO and more.
Judith B. Vorndran, JD, CPA, MSBA
Partner
TaxOps
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.
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