Our system tracks the sales and use tax as the field codes the invoices. It accumulates the total amount owed to each state, county, and city and then provides us with a report at the end of the month so that we know how much to submit to each entity.
As an added bonus, it places the responsibility of coding the sales and use tax on the project, and therefore if we end up with an item that was missed and a penalty then we can then charge the penalty back to the project that made the mistake.
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Steve Hathaway MS, ECM-P, BCM-P
Chief Financial Officer
SEMA Construction, Inc,
Centennial CO
(303) 627-2600
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Original Message:
Sent: 02-01-2018 11:05
From: Leslie English
Subject: Sales & Use Tax - How are you handling the calculations?
Hello,
I am trying to discern how everyone else in the Construction Industry is handling Sales & Use Tax in their own company (for CO). Are you manipulating reports, then re-reviewing invoices during your monthly tax return? Do you have a tax service that assists you? Do you have a point person within your company that is tasked strictly with just working on this? Just trying to get a pulse on how others in the industry are handling this task.
Thank you!!
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Leslie English
Project Accountant
Adolfson Peterson Construction
Aurora CO
(303) 326-5856
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