In sales tax circles, a “Gotcha” is an unexpected outcome usually from an audit that seems illogical and counterintuitive, Katherine Gauntt, an Engagement Manager in the SALT Center of Expertise for Experis LLP, writes in this week’s issue of the Bloomberg BNA Weekly State Tax Report.
“And when compared to the typical treatment of similar transactions by other states or, to a lesser extent, other tax types, is something you don't see coming,” she says.
In her article, which can be read in its entirety here, Gauntt provides a closer look at sales and use tax “Gotchas,” including Sales and Purchase “Gotchas” and Compliance and Tax Return “Gotchas.”
Continue the discussion on Bloomberg BNA’s State Tax group on LinkedIn: Do you have a favorite “Gotcha?”
For more information about this and other state tax issues, sign up for a free trial of the Bloomberg BNA Premier State Tax Library.
In other developments…
The Estate Tax is a Poor Source for Federal Revenue, by the Tax Foundation
New York Tax Insights, September 2014 edition, by Morrison & Foerster LLP
Compiled by Priya D. Nair
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