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Gross Receipts Taxes Make a Comeback: How to Manage New Obligations

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1.5 CPE credits
 
 
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Overview

Gross receipts taxes are generally levied and assessed against a seller based on the gross proceeds of all sales of tangible personal property and/or services (regardless of how they are taxed for sales tax) into a state without any deductions for costs of doing business.

The imposition of gross receipts taxes borrows concepts from other tax types. Sometimes a state’s gross receipts tax may “look and smell” like a sales tax but is not applied in the same way.  In some states, it is a replacement or additional income tax and yet in others it is administered as part of the business license process.

In many cases, the responsibility to manage these hybrid taxes falls to sales tax professionals. However, most sales tax professionals specialize in just that – sales tax – and may not be aware of how to manage the specific nuances of gross receipts taxes. 

There is a resurgence of gross receipts taxes of varying stripes across the United States that can lead to new nexus and filing obligations for businesses. You need a framework to determine if these taxes affect your business in order to stay compliant. Learn how to manage gross receipts taxes in this 90-minute webinar.

Who should attend?

This webinar is intended for financial and operations personnel—including tax, general accounting, accounts payable, sales, tax technology, purchasing and credit—who are tasked with managing gross receipts taxes as part of their responsibilities. The course is also designed for general practitioners, with minimal to no experience.

About the Instructor

Diane L. Yetter, President & Founder, YETTER and Sales Tax Institute

Diane L. Yetter is the “Sales Tax Nerd®” as well as a strategist, advisor, speaker, and author in the field of sales and use tax. She is president and founder of YETTERTM, a sales tax consulting and tax technology firm in business since 1996. She is also the founder of The Sales Tax Institute, a premier think tank that offers live and online courses to educate business professionals about sales and use tax.

More About Diane L. Yetter

“Awesome webinar topics. I always learn something new. The Sales Tax Institute keeps it “fresh” with the latest information available.”

Additional Details About the "Gross Receipts Taxes Make a Comeback: How to Manage New Obligations" Webinar

There can be a learning curve in understanding gross receipts taxes. Generally speaking, “gross receipts tax” is a catch-all term for a tax on all business receipts rather than on net income. However, there are several variations imposed across the states.

Gross receipts taxes in some states, such as in New Mexico and Hawaii, function similarly to sales taxes. The seller is liable for the tax and must present the tax on the invoice to pass the tax on to the customer. However, unlike a sales tax, gross receipts taxes apply to business-to-business transactions in addition to purchases by the end consumer and typically apply to most sales including services.

In other states, gross receipts blend income tax and sales tax features. The Washington Business and Occupation (B&O) Tax, the Ohio Commercial Activity Tax (CAT), the Oregon CAT, and the Texas Franchise (Margin) Tax all have distinct threshold, tax base, calculation, and exemption rules to understand.

There has also been a recent trend for local gross receipts taxes such as the San Francisco Gross Receipts Tax, Payroll Tax and Homelessness Tax, the Portland Gross Receipts Tax, Philadelphia Gross Receipts, and a variety of local business licenses that measure the license fee on gross receipts such as Los Angeles and cities/counties in Virginia. Many Washington cities have had local B&O taxes for years.

Despite criticism for being inefficient and harmful, gross receipts taxes are making a comeback across the states to raise revenue. For example, Oregon’s Commercial Activity Tax became effective January 1, 2020.

Gross receipts taxes are hybrid, shape shifting taxes that can easily leave you confused if you don’t have the details straight. Get expert guidance and answers to your questions at this live webinar so you can handle gross receipts taxes with confidence.

Your Teaching Staff

In this 90-minute live webinar, sales tax expert Diane Yetter of the Sales Tax Institute will teach you what you need to know about the different forms of gross receipts taxes. You’ll learn tenants of gross receipts taxes, how to determine if you have a filing obligation, recent legislative changes across the states, and much more.

And during the live Q&A portion of the webinar, you can get answers to your specific gross receipts tax questions directly from Diane.

 

Learning Objectives for this webinar include:

    • Learn how gross receipts taxes work for sellers and how they differ from sales taxes and corporate income taxes.
    • Understand administrative items such as rate and calculation issues, registration, collection, invoicing, and filing for gross receipts taxes.
    • Get an overview of states that impose gross receipts taxes so you can understand the nuances of different state rules to manage them effectively.
    • Learn exemptions, deductions, and credits that may apply to your business so you can bring cost savings to your company
    • Discover which local taxing jurisdictions impose local business licenses based on gross receipts.
    • Find out why economic nexus has been long standing in gross receipts tax states long before the Wayfair decision.
    • Learn about significant recent developments related to gross receipts taxes across the states.

CPE Information:

Webinar attendees can earn 1.5 hours of CPE credit in the “Taxes” field of study

Prerequisites: This course requires no prerequisites or advance preparation.

Program Level: Basic

Delivery Method: Group Internet-Based

 

Additional Information about CPE

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