Sales and Use Tax Accounting

2 Credits: Accounting


Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)

 Secure Transaction

Sales and Use Tax Accounting

Course Level
CPE Credits

2 Credits: Accounting

Course Description

Before enrolling in “Sales and Use Tax Accounting,” professionals might find themselves perplexed by the intricacies of applying, reporting, and complying with sales and use tax regulations. The challenge of determining when to charge sales tax, how to handle over or under collections, and presenting tax liabilities in financial statements can lead to uncertainty and potential risks in tax compliance.

After completing this course, participants will undergo a transformation in their approach to sales and use tax accounting. The course bridges the gap between confusion and comprehension. Taught by Steven M. Bragg, this course provides a detailed understanding of the methods for remitting sales taxes, the rules for charging and accounting for these taxes, and the presentation of tax liabilities. The course also equips participants with the knowledge to navigate special scenarios like sales tax audits and private letter rulings confidently. Armed with this comprehensive understanding, participants will be well-prepared to handle the complexities of sales and use tax accounting with precision and compliance, enhancing their professional capabilities and confidence.

Show More
Show Less

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the methods used to remit sales taxes to a government.
  • Note the different requirements for obtaining a sales tax license.
  • Recognize the rules for how and when to charge sales tax.
  • Recall the proper accounting to be used for all types of sales tax transactions.
  • Note the proper presentation of sales tax liabilities in the financial statements.
  • Identify the correct treatment of over- and under-collections of sales taxes.
  • Recall the excuses that may be accepted for not submitting a sales tax return.
  • Note the key characteristics of a private letter ruling.
  • Recall how a multiple points of use certificate is to be used.
  • Identify the situations in which use tax is to be paid.
Show More
Show Less

Course Specifics

Course ID
Revision Date
October 25, 2023

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …