Shared from the 2018-07-10 American Press eEdition

Donna Little

Get the facts about sales and use tax

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Dealing with sales and use tax is an integral part of operating many small businesses. An owner must understand what products and services are subject to the tax. Remitting the collection takes time and understanding of the process.

As part of its 2018-19 budget, the state of Louisiana changed the sales tax rate. The rate is now 4.45 percent, down from 5 percent. Changes have also been made to what is covered by the sales tax. Business owners must reprogram cash registers and other point-ofsale systems to collect the correct amount.

The Louisiana Small Business Development Center at McNeese State University would like to help business owners understand sales and use tax. Bryan Peters, revenue tax director with the Business Tax Enforcement office of Louisiana Department of Revenue, will present a workshop on this important topic on Tuesday, July 17, from 3-5 p.m. at the SEED Center.

Peters will explain how business owners are required to collect taxes on retail sales, some services and leases and rentals of most goods. He will review resources available on the Louisiana Department of Revenue website including online reporting and payment of taxes and access to resale certificates. He will also give insight into the regulations that provide an exemption from state sales tax for food that is sold for preparation and consumption in the home.

The consumer use tax can be difficult to understand. Business owners will learn their responsibilities and have an opportunity to get clarification on this important topic.

His extensive experience in the field gives Peters a solid understanding of the questions and difficulties faced by business owners. In his program, Peters will provide information about communicating with the Louisiana Department of Revenue to get assistance when a question arises.

Don’t miss your chance to learn from an expert. Register now to attend this free workshop on sales and use tax. Go to www.lsbdc.org/msu and click on training or call 337-475-5529.

Let the consultants at the LSBDC at McNeese work with you to make your business more successful. For over 30 years, the LSBDC at McNeese has assisted entrepreneurs and business owners who are looking to start or grow their small business. Visit www.lsbdc.org/msu to learn more about us. For no-cost assistance with your business, call 337-475-5529.

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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration and Louisiana Department of Economic Development. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

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Donna Little is the director of the Louisiana Small Business Development Center at McNeese State University. Contact her at 475-5945 or dlittle@lsbdc.org.

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