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#2501BasicComing Soon
Virginia Retail Sales Tax – The Basics
When a business must register to collect Virginia sales tax, what's taxable, how to remit, and the often-overlooked obligation to self-remit use tax.
- CPE hours
- 20
- Field of study
- Taxes
- Level
- Basic
- Delivery
- QAS Self Study
About this course
Build a strong foundation in Virginia Retail Sales and Use Tax. This introductory course breaks down which charges are taxable, highlights key service exemptions, and teaches you how to analyze transactional documents with confidence to identify taxable amounts and apply the correct tax rate. Perfect for professionals and business owners, you'll walk away with practical skills to help you stay compliant with Virginia Sales and Use Tax.
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.
Prerequisites: None