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Sales & Use Tax Tips for September 2010
NEW YORK STATE CHANGES POLICY REGARDING INFORMATION SERVICES
Does this change affect your business?
New York State recently changed its policy in regards to the sale of public documents. The state wrote an advisory opinion in 2004 articulating that the sale of public documents was subject to sales tax. However, the state has allowed businesses to rely on advisory opinions that predated the 2004 opinion. This policy has changed effective September 1, 2010 and all sales of public documents will now be subject to sales tax.
In addition to no longer allowing reliance on prior advisory opinions, the state has decided to begin taxing abstracts of title and risk management analysis reports. If your business sells these services and has not registered with the state of New York, you will be required to register and start remitting sales tax effective September 1, 2010.
The State will not hold vendors liable for sales taxes owed in connection with sales of public documents for periods prior to September 1, 2010. However, Companies will be required to register going forward. At Olivier & Associates, LLC we can help you with the registration process, and if the Company has any past sales tax liability for taxable sales, other than public documents, we can also assist your Company with limiting this past exposure. Click on the Exposure Resolution link for more information.
To learn more about these or other services or should you have any other questions or require assistance please Contact us today. Or call 1-888-466-2829 to speak with an Olivier &
Associates Sales and Use Tax professional for a no-obligation consultation about your Sales & Use Tax issues.
Please click here for more Sales Tax Tips or visit our website at www.oatax.com for information. For additional insight on common sales tax concerns, please see the Did You Know? section of our website.
* This tip is intended to provide general information only and is not to be considered as a substitute for professional advice.
