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Aircraft Sales May Be Exempt from the Sales and Use Tax
Aircraft is tangible personal property and subject to Texas’ sales and use tax. However, the sale or lease of aircraft may qualify for one of several exemptions from the sales and use tax. This Practice Insight notes ...
Understanding the Texas Comptroller’s Discretion to Redetermine the Tax on a Sales or Use Tax Report
The Texas Comptroller has the authority to redetermine the amount of tax owed by a taxpayer if he is not satisfied with the amount of tax paid or with a sales or use tax report.
Improper Documentation and Maintenance of Files Can Lead to the Loss of Exemptions
Items purchased for resale are not taxable in Texas, however, a purchases must provide a resale certificate to a purchaser in order to qualify for an exemption from sales and use tax. Sellers should keep these certificates ...
Penalties for Failing to File Sales Tax Report and Pay Taxes
The failure to file sales and use tax reports can lead to the imposition of civil and criminal penalties and interest; the Texas Comptroller can choose to waive the civil penalties and interest.
Understanding Who Are Sellers or Retailers and Their Sales and Use Tax Obligations
The Texas Tax Code requires Texas retailers and sellers to collect sales tax for any taxable sale and remit such sales tax to the Texas Comptroller of Public Accounts.
Ship and Ship Equipment Sales May Be Exempt from the Sales and Use Tax
While most ship and ship equipment sales and leases are subject to Texas sales and use tax, there are several situations for which the Texas Tax Code provides exemptions.
Understanding the Meaning of Sales Price or Receipts
Texas deems certain services and the sales of tangible personal property as taxable; the tax base is calculated from the sales price or gross receipts. An entity must retain documentation in case of an audit or for when ...
Understanding the Sales and Use Tax Exemption for Religious, Education and Public Service Organizations
Certain religious, educational, and public service organizations may obtain a sales and use tax exemption by submitting a written application to the Texas Comptroller of Public Accounts. Organizations that are automatically ...
Out-of-State Retailers Engaged in Business in Texas Must Register and Collect the Sales and Use Tax
Texas law imposes a use tax on out-of-state retailers that bring items into Texas to store, use, or otherwise consume such items. Retailers collecting use tax should include the use tax in the sales price.
Sellers Must Retain Records for a Four Years Period
Texas sellers must retain transaction records for at least four years. Resale and exemption certificates must also be retained for at least four years.