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Drop Shipments: Taxation, Compliance and Planning (2004)
by: Diane L. Yetter - CCH Tax Law Editors
0808011413 / 9780808011415

Book Description:
Drop Shipments: Taxation, Compliance and Planning helps sales and use tax professionals sift through the tangle of state rules related to multi-party drop-shipment transactions. The book is based on state-by-state poll conducted by CCH state tax editors that queried state revenue departments in the District of Columbia and all 45 states that impose sales or transaction taxes. The result is an insightful, comprehensive look at the sales and use tax rules on drop shipments. CCH's editors along with Diane Yetter, noted sales tax consultant and founder of the Sales Tax Institute, bring together in one resource each state's rules and interpretations defining the taxation of drop shipments with references to the official statutes and regulations. This book provides answers to questions on: - taxability - tax basis - parties responsible for remitting tax - resale documentation - nexus considerations, and - statutory and regulatory citations. Drop Shipments: Taxation, Compliance and Planning addresses many key tax compliance and planning questions that arise in drop shipments. With drop shipments, since there are actually two (or more) transactions involved, basic questions arise that are not so simple to answer, such as what documentation is required as proof that the first is a sale for resale? Some states accept other states' resale certificates while others accept only their own. Many take the Multistate Tax Commission’s Uniform Sales & Use Tax Certificate, but some of those accept the MTC form only under specific circumstances. Some states allow an exemption certificate for the second transaction to be passed through as documentation that the first sale should be exempt. Most, however, do not. Many times, the tax collection burden falls on the initial seller. A few states collapse the transaction, making the original seller responsible for collecting tax on the selling price to the final third-party consumer. Rules also vary on whether a middle-party retailer may reimburse itself for tax paid to a manufacturer or wholesaler. In addition, nexus considerations can trip up unwitting retailers. In some states, a manufacturer or wholesaler drop shipping goods on behalf of an out-of-state retailer will create agency nexus for that retailer. It can be a daunting assignment to find out which states take this position and what specific set of circumstances will establish a taxable presence. Until now, tax practitioners have had little in the way of published reliable guidance on drop shipments. This new book brings together in one resource each state's rules with references to the statutes and regulations defining drop-shipment taxation. In addition, this book summarizes rules and requirements in 20 states with large populations or unusual drop-shipment rules and shows how drop shipments are taxed in states with a gross receipts or general excise tax instead of a sales tax. State summaries highlight special documentation issues and strict collection requirements. Drop Shipments: Taxation, Compliance and Planning is a tool to assist tax practitioners in determining where drop-shipment liabilities and compliance pitfalls lurk. Whether you are a manufacturer, wholesaler, retailer or consumer, this guide is a helpful and time-saving starting point for identifying potential trouble spots and planning an appropriate course of action. It will help you determine which states impose the strictest rules and how to effectively comply with those rules.

Drop Shipments: Taxation, Compliance and Planning (2004)

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