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Self-Assessment of Consumer Use Tax
Sponsored By CCH, a Wolters Kluwer business
- Topics:
- Accounting > Tax
- Professional Services > Auditing
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- Abstract:
- For most companies, the imposition of sales tax is a normal part of business operations. However, consumer use tax is often overlooked, leading to costly transactional audit penalties and interest, or unnecessary overpayments. Consumer use tax associated with untaxed purchases often represents the greatest portion of a transactional audit assessment for many businesses. Consequently, allocating resources to ensure accurate consumer use tax reporting is not only advantageous in terms of trying to follow state and local use tax law, but it is also wise from a management and financial perspective as well.
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- Posted: August 06, 2008
- Length: 6 pages
- Format: PDF (1197 kb)
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