Tax Terminology
Specific circumstance or category that allows certain transactions or entities to be excluded from sales or use tax requirements.
What is tax exemption
A tool or reference document that helps businesses determine the taxability of specific products or services in different jurisdictions.
What is taxability matrix.
It provides information on whether a particular item is subject to sales tax or exempt from taxation, based on the relevant tax laws and regulations.
Most states don't have a 'food tax.' But these __#__ states still tax groceries.
What is 13.
AL, AR, HI, ID, IL, KS, MS, MO, OK, SD, TN, UT, VA*.
*Localities charge tax
Replaced Tim Ryan as the new PwC US Chair
Who is Paul Griggs
Managers and above must first enter all opportunities in ______ and include important information such as risk and independence information.
What is Salesforce
Transactions that are subject to sales tax.
What is taxable sales.
Specific location or jurisdiction where a particular tax is imposed or considered to be owed.
What is tax situs.
This state imposes a Blueberry tax on wild blueberries processed in the state and all unprocessed blueberries shipped out of the state
What is Maine.
As the world's largest producer of blueberries, Maine imposes a Blueberry Tax on wild blueberries processed in the state and all unprocessed blueberries shipped out of state. The purpose of this tax is to promote the prosperity of the wild blueberry industry and support development activities.
You are able to join one or more of our groups, made up of our people who share common backgrounds, life experiences and/or interests that support our culture of belonging and improve social well-being.
What is Inclusion Networks.
_____ is the one-stop platform for engagement set-up and administration
What is Rapid Engage.
An examination or review conducted by tax authorities to ensure that businesses have accurately reported and paid the correct amount of sales and use tax, and complied with relevant tax laws and regulations.
What is a tax audit
A document provided by a buyer to a seller indicating that the purchased items will be resold rather than used by the buyer. It allows the buyer to make a tax-exempt purchase for resale purposes.
What is a resale certificate.
In this state, bagels purchased whole or sliced and taken away are not taxed. However, bagels that are toasted or served with a “schmear” like cream cheese cross the line into being prepared food and are subject to tax.
What is New York.
Firm CPE requirement is due by ____.
What is June 30, 2024.
Check myCompliance to confirm you've met the requirement. Click 'CPE' at the top.
Every engagement requires this questionnaire to determine whether work is permissible
What is AFS.
Connection or presence that triggers a business's obligation to collect and remit sales tax in a particular jurisdiction.
A company or platform that facilitates the sale of goods or services between third-party sellers and customers.
What is marketplace facilitator.
The marketplace facilitator typically provides the platform, technology, and infrastructure for sellers to list and sell their products or services. They may also handle payment processing, customer service, and order fulfillment.
This state imposes a 2.9% tax on non-essential packaging, including to-go coffee cup lids.
What is Colorado.
This PwC tool can be used to access our research tools (e.g. Checkpoint, BNA, CCH)
What is Tax Source.
Budgets for each engagement should be created in ______.
What is Flex Forecast.
____ tax is imposed on the sale of tangible personal property, while ____ tax is levied on the use, storage, or consumption of such property when sales tax was not properly collected at the time of purchase.
What is sales tax and use tax.
The process in which a company or organization conducts an internal review of its sales and use tax compliance to identify any potential overpayments or errors.
What is reverse audit.
The goal of a reverse audit is to identify and recover any overpaid taxes or resolve any potential compliance issues, leading to potential cost savings and improved tax compliance.
This state taxes single men between the ages of 21 and 50 a 1% annual tax.
What is Missouri.
The law was enacted in 1820, presumably to encourage more men to marry.
PwC's official mascot
Who is Penny the PwC Penguin.
Per ChatPwC: Penny is often depicted as a blue penguin wearing a red bow tie and holding a briefcase, symbolizing PwC's professionalism and dedication to their clients.
She symbolizes qualities such as teamwork, adaptability, and resilience – all important attributes in the business world.
**No pictures available
_____ is used for multiple purposes, including code creation, time transfers and billing.
What is MyEngage.