Training Course
Syllabus:
This seminar is designed for accountants, bookkeepers, accounts payable and receivable managers, tax, finance and purchasing professionals.
For those people who have been given the responsibility of handling review and compliance procedures, and who have little or no experience with such matters, dealing with this responsibility can be overwhelming. Failure to comply with current tax laws and procedures can result in ruinous liabilities, not only for tax but also for interest and penalties.
This seminar is designed to walk you step-by-step through the basic forms and definitions of the Washington tax system. The faculty will also conduct tax return filing exercises to sharpen your skills.
Topics to be discussed include:
• Taxpayer Rights And Responsibilities
• A Definition Of Major Excise Taxes
• Business And Occupation Tax – What Is It And How Is It Measured?
• When Does Retail Sales Apply?
• When Is Use Tax Due?
• Preparing Excise Tax Returns
8:30 a.m. - 8:45 a.m.
I. Introductions And Overview Of Day’s Activities
8:45 a.m. - 9:00 a.m.
II. Taxpayer Rights And Responsibilities
9:00 a.m. - 9:15 a.m.
III. Major Excise Taxes – An Overview
A. Business And Occupation (B&O)
B. Retail Sales Tax
C. Use Tax
D. Public Utility Tax
E. Personal Property Tax
9:15 a.m. - 10:20 a.m.
IV. Business And Occupation Tax
A. What Is It?
B. How Is It Measured?
C. How To Classify Different Types Of Income
D. B&O Tax Exemptions
E. B&O Tax Deductions
F. B&O Tax Credits
G. How To Calculate The Multiple Activities Tax Credit
10:20 a.m. - 10:30 a.m.
Break
10:30 a.m. - 12:00 p.m.
V. Retail Sales Tax
A. When Does It Apply?
B. How Is It Measured?
C. Seller Liability
D. Retail Sales Tax Examples
E. Place Of Sale
F. Retail Sales Tax Deductions
G. Manufacturing Machinery And Equipment
H. Resale Certificates
I. Deferred Sales Tax
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:20 p.m.
VI. Use Tax – Companion To Retail Sales Tax
A. When Is It Due?
B. How Is It Calculated?
C. How To Report Use Tax Liability
D. Use Tax Examples
2:20 p.m. - 2:30 p.m.
Break
2:30 p.m. - 3:45 p.m.
VII. Preparing The Excise Tax Return
A. Filing Requirements
B. Accounting Methods
C. Recordkeeping Requirements
D. Electronic Filing
E. How To Complete The Tax Return
F. How To Report Exemptions And Deductions
3:45 p.m. - 4:30 p.m.
VIII. Tax Return Filing Exercises | 
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