Deciphering Sales Tax One Charge at a Time: A Virginia Retail Sales & Use Tax Course

Learning objectives

• Determine what is considered tangible personal property (TPP) as defined by the Code, and identify what TPP is and is not subject to the retail sales and use tax.
• Identify taxable services and the taxable charges included with the sale of TPP.
• Identify the exempt professional, personal, and other service charges and recognize when additional charges by professionals become subject to the tax.
• Apply the true object test to distinguish an exempt service from a taxable sale of TPP.
• Define sales price and gross proceeds of a lease, and identify the charges excluded from each.
• Apply a step-by-step analysis to identify additional services in connection with the sale of TPP that are subject to the tax.
• Determine when Virginia use tax is owed, when first use occurs in Virginia, and when a credit for tax paid to another state is allowed.
• Apply the correct tax rate to Food for Home Consumption and Essential Personal Hygiene items and determine the correct rate under the Sourcing Guidelines.
• Identify when a transaction qualifies for the occasional sale exemption.