Texas Sales and Use Taxes - Virtual Edition

Description

Texas sales and use tax rules for the construction industry are among the most complex in the state. Understanding how these rules apply to construction projects is essential for maintaining compliance with the Texas Comptroller, accurately pricing work, and avoiding unexpected tax assessments that can significantly affect project profitability.

This program provides construction professionals with a practical understanding of the sales and use tax requirements that apply to contractors and construction projects in Texas. Participants will explore how tax treatment can vary based on the type of work being performed, the customer, and the nature of the project—including important distinctions between new construction and repair or remodeling, residential and non-residential projects, and taxable and tax-exempt customers.

The course will also address the proper use of exemption and resale certificates, documentation requirements, and best practices for preparing for and responding to sales and use tax audits.

Although sales and use tax is often viewed primarily as an accounting responsibility, decisions made by estimators, sales professionals, purchasers, contract administrators, and project managers can directly affect a project's tax liability, pricing, and profitability. This course helps project and financial teams recognize those implications and make more informed decisions throughout the project lifecycle.

Program Objectives

Upon completion of this course, participants will have a better understanding of:

• Texas sales and use tax rules applicable to contractors and construction projects
• Tax treatment of new construction versus repair and remodeling work
• Differences between residential and non-residential construction
• Tax considerations when working for taxable and tax-exempt customers
• Proper use and documentation of exemption and resale certificates
• Recordkeeping practices that can help support a company during a sales and use tax audit
• How sales tax considerations can affect estimating, purchasing, project pricing, and profitability

Target Audience

This course is designed for construction professionals whose responsibilities can affect sales and use tax compliance, project pricing, purchasing, or financial performance, including:

• Construction accounting and finance professionals
• Estimators and preconstruction professionals
• Project managers and contract managers
• Purchasing and procurement professionals
• Sales and business development professionals
• Controllers, CFOs, and other financial leaders
• Construction business owners and other professionals responsible for Texas tax compliance

Presenters:

Monica Nixon and Matt Ford State Tax Advisors