Gain a better understanding of the exemptions available to manufacturers in Minnesota.
This topic will give a detailed overview of available exemptions for manufacturers, how to properly take advantage of them, and how to get a refund if they were underutilized.
Sales tax which may apply on transactions involving the sale of products will be covered. Items covered include when a manufacturer is required to collect sales tax on a transaction, what other charges are subject to the sales tax, and at which rate is the sale taxed.
As a manufacturer, most purchases made are not subject to sales tax. However, most businesses do have a use tax filing compliance. This material will go over common area of exposure for use tax for manufacturing businesses.
Lastly, helpful guidance on recordkeeping and how to prepare for an audit will also be included.
Agenda
Faculty
Sarah Hopkins
Baker Tilly Virchow Krause, LLP
- Senior manager – Transactions/State and Local Tax at Baker Tilly Virchow Krause, LLP
- Past experience working for the Minnesota Department of Revenue for more than nine years
- Focuses on sales and use tax policy assisting the department and the legislature during the legislative sessions
- Frequent presenter on sales and use tax compliance and law changes, as well as industry specific guidance for industry and trade groups, government agencies, individual businesses, as well as to the general public and tax preparers
- B.S. degree, Winona State University
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