Beginner's Agenda

8:30 a.m. - 10:20 a.m.

I. Overview of Arkansas Sales and Use Tax

A. Gross Receipts (Sales) Tax

B. Compensating Use Taxes

1. Consumer Use

2. Vendor Use

C. Direct Pay Permit Holders

D. Local Taxes

1. Local Taxes Generally

2. Local Taxes for Direct Pay Permit Holders

E. Other Excise Taxes

F. Definition of Key Concepts

1. Nexus

2. Exemptions and Exclusions

3. Tangible Personal Property

4. Services

II. Recent Arkansas Developments and How to Read Statutes and Regulations

10:20 a.m. - 10:30 a.m. BREAK

10:30 a.m. - 12:00 p.m.

III. Sales Tax Compliance

A. Applications

B. Returns, Reporting and Recordkeeping

1. Statute of Limitations

C. Direct Pay Permits

IV. Tangible Personal Property

A. Tangible Personal Property Definition

B. Basic Exemptions

1. Resale Exemption

2. Agricultural Exemption

3. Manufacturing Exemption

4. Pollution Control Exemption

5. Isolated Sales Exemption

6. Other Exemptions

V. Enumerated Services

A. Exclusions versus Exemption

B. Listing of Taxable Services

12:00 p.m. - 1:00 p.m. LUNCH (included)

1:00 p.m. - 2:20 p.m.

VI. Contractors

A. Definition of Contractor

B. Multiple Roles of a Contractor

1. Retailer

2. Construction

3. Fabricator

4. Repairman

5. Consumer

C. Contracts with Federal Government Agencies

D. Contracts with Direct Pay Permit Holders

VII. Specific Types of Sales

A. Graphic Arts and Printing

B. Rentals and Leasing

C. Advertising

D. Computers - Software, Hardware and Consulting

E. Repairs

2:20 p.m. - 2:30 p.m. BREAK

2:30 p.m. - 4:30 p.m.

VIII. Sales Tax Administration

A. Gross Receipts (Sales) Tax Collected by Sellers

1. Fiduciary Responsibility

2. Collection of Exemption Certificates

3. Reporting of Tax on Sales

4. Automated Tax Calculation Programs

B. Compensating Use (Consumer) Tax Remitted by Purchasers

1. Determination of Taxable Transactions

2. Calculations and Reporting of Tax

a. Direct Pay Permits Holders

IX. Sales and Use Tax Audits, Appeals and Refunds

A. Audits

B. Appeals Process

C. Refund Claims

D. Opinion Letters

X. Economic Development Incentive Programs

A. Enterprise Zone

B. Manufacturers Investment Programs

XI. Questions and Answers

Beginner's Sales and Use Tax Topics