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Sales Tax for Construction and Real Property Transactions: Tax Treatment of Contracts, Labor, and Building Materials

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A

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Conducted on Thursday, December 15, 2022

Recorded event now available

or call 1-800-926-7926

This course will provide tax professionals and advisers with an in-depth analysis of state sales tax treatment of construction and real property transactions. The panel will discuss the taxation of construction labor and building materials permanently attached to real property, state law distinctions on the tax treatment of specific contracts, available tax elections and exemptions, and planning opportunities.

Description

Sales and use taxation of construction and real property transactions is difficult to grasp and requires strict compliance with state tax registration and reporting requirements. Tax professionals and advisers must identify critical issues and carefully monitor the transactions and operations of residential and commercial property contractors, buyers, and sellers.

Whether you're a tax professional who works for a construction company or a business that enters into contracts with construction contractors, the tax treatment of these transactions can be subject to varying state-by-state tax rules. These sales and use tax rules can create issues for new construction, the renovation of an existing property, or the ongoing operation of a property.

Tax professionals, contractors, and related parties must recognize the expenditures involved with a project to minimize unintended sales tax assessments, penalties, and interest. Also, understanding how contract pricing dictates state sales tax rules and strategies in challenging audit assessments is crucial.

Listen as our panel examines the common sales tax issues for construction and real property transactions, labor, and materials. The panel will also provide insight into how contract pricing can dictate the application of sales taxes and offer best practices for maintaining state sales tax compliance.

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Outline

  1. Tax treatment of construction and property transactions
    1. New construction and capital improvements
    2. Taxable vs. non-taxable works
    3. Available exemptions
  2. Tax registration and reporting
  3. Avoiding and managing an audit
  4. Best practices for tax professionals, contractors, and investors

Benefits

The panel will discuss these and other key issues:

  • The tax treatment of construction and real property transactions
  • Taxable versus non-taxable works and treatment of labor, materials, and other expenditures
  • Available sales and use tax exemptions
  • Maintaining compliance with state tax registration and reporting
  • Navigating the nuances of an audit and challenging assessments

Faculty

Bruns, Stephanie
Stephanie M. Bruns
Senior Managing Associate
Dentons

Ms. Bruns' practice includes state and local tax planning and income, sales, and excise tax, as well as property...  |  Read More

Loyd, Mark
Mark A. Loyd
Partner & Co-Leader, Dentons National Tax Practice Group
Dentons

Mr. Loyd's areas of practice concentration are state, local and federal taxation, tax litigation, tax controversy...  |  Read More

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