Are accounting services taxable in ct?

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Kavon Lockman asked a question: Are accounting services taxable in ct?
Asked By: Kavon Lockman
Date created: Mon, Mar 29, 2021 11:54 AM
Date updated: Tue, Sep 20, 2022 8:54 AM

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  • SB 877 imposes Connecticut’s sales tax on, among other things, interior design, real estate agency, travel, and veterinary services, as well as newspaper sales. The bill also applies the sales tax to accounting, architectural, engineering, and legal services. However, businesses may be exempt from paying sales tax on certain of these services.

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With respect to a particular tax return, tax preparation services are taxable only if performed after the close of the taxable period to which the return pertains. (With respect to a federal or Connecticut estate tax return, including a succession or inheritance tax return, tax preparation services are taxable only if performed after the death of the decedent.)

services in Connecticut are presumed to be exempt from the tax unless they are specifically identified as taxable in statute. The District of Columbia and 40 states take the same approach to taxing services; the remaining four other states presume services are taxable unless they are specifically exempt in statute.

Resources About Professional/Accounting Services Not Subject to Sales Tax in Specific States. Connecticut and list of comparison sales tax rates (2009) and article; Iowa list and FAQs of services does not include accounting (June 2009) Michigan and article on Michigan Changes Course - Repeals Sales Tax on Services (Dec. 2007) North Dakota; Texas; Utah

Taxable Services: Conn. Gen. Stat. §12-407(2)(i)(J) imposes tax on the rendering of business management consulting services. "Business management consulting services" include furnishing advice and assistance on the management of a service recipient’s core business activities or human resource management activities, including job-related training.

management and business management consulting services, we infer that they are exempt. South Dakota, like West Virginia, subjects all but specifically exempted services from the tax. The exempted services include advertising, but not the other types of business services subject to the Connecticut tax. Table 3 summarizes our findings.

If a job or position is procured without the state, such services are not taxable. For employment agency services it is the location of the job which is procured that determines whether the service is taxable in Connecticut.

Computer and data processing services are taxed at 1%.

SB 877 imposes Connecticut’s sales tax on, among other things, interior design, real estate agency, travel, and veterinary services, as well as newspaper sales. The bill also applies the sales tax to accounting, architectural, engineering, and legal services. However, businesses may be exempt from paying sales tax on certain of these services.

SERVICES INVOLVED IN PREPARING WORKING TRIAL BALANCE: Where the same service provider provides accounting services and tax preparation services to the client, 50% of the charges for services involved in the preparation of the working trial balance will be presumed to be charges for tax preparation services (in addition to the charges for other tax preparation services) and the other 50% will be presumed to be charges for accounting services.

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