Lorman Education Services presents 'Sales And Use Tax' seminar on November 3, 2005.

This 'Sales And Use Tax' seminar will focus on the basic concepts of sales and use taxes.

(PRWEB) October 5, 2005 -- Proper tax planning is an essential part of any business endeavor. Unfortunately, while most planning focuses on the income tax, it often overlooks the very significant impact that sales and use tax can have on the bottom line.

New York State and many of its subdivisions impose a sales and use tax on a wide range of transactions covering almost every aspect of commercial activity. Since the tax is imposed on the gross receipts derived from a taxable transaction, the resultant liability can be substantial. Sales and use tax liability also presents a very high risk to the officers and other persons responsible for collection and payment.

Unlike the corporate income tax, the sales tax is a trust fund for which responsible officers are personally liable and which cannot be discharged by bankruptcy or the mere passage of time. Sales tax audit and collection procedures differ substantially from their counterparts in the income tax. The consequences of a failure to strictly comply with adequate recordkeeping requirements can produce draconian arbitrary assessments that are difficult to refute. Improvements in technology, the growth of the Internet and interstate transactions, and sophisticated leasing and financing techniques have all contributed to an increased complexity in the area of sales and use tax. Proper planning can often legally avoid a liability that might otherwise accrue.

Barry Leibowicz is an attorney admitted in New York and the federal courts. In addition to his J.D. degree, he has a master of laws degree in taxation, and has written numerous articles on tax law and practice appearing in such journals as the Journal of Taxation, the Tax Advisor, The American Bar Association Journal, Journal of Multistate Taxation and Incentives, The Practical Accountant and The Practical Lawyer.

Mr. Leibowicz is an associate professor in the Department of Accounting and Information Systems at Queens College of the City University of New York. He has lectured on numerous occasions on behalf of the New York State Society of CPAs, St. John's University, the Rockland County Community College, the New York Institute of Technology, ACE, Stanley Kaplan Ed Centers and others. Mr. Leibowicz is the draftsman of New York State sales tax legislation recently signed into law. He practices in federal, state and city tax matters and his practice deals with problems and planning related to income, estate, franchise and sales taxes. For more information please visit www.leibowiczlaw.com.

This one-day seminar is designed for accountants, controllers, accounts payable professionals, CFOs, tax managers and officers, presidents, vice presidents, bookkeepers and enrolled agents.

To register for this event please click http://www.lorman.com/info/357969 or please call 866-352-9539 to speak with a Lorman Education customer service representative. Reference number for this event is 18189.

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