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Nc Sales Tax Forms

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					Filing Procedures


All departments within the University will report their monthly sales figures in an identical manner to the Corporate
Tax Office. This method will promote proper compliance with state and local sales tax laws.

Each department is responsible for keeping track of its gross sales, taxable sales and sales tax collected. At present,
each department has a different method of keeping track of these items (e.g., Quickbooks, cash register receipts and
handwritten paper receipts, etc.) Regardless of the method used, all departments within the University will be
responsible for reporting monthly sales and sales tax.


Information compiled by individual departments must be forwarded to the CTO on or before the 5 th day of each month.

Appendix 1
Gross sales, taxable sales and sales tax collected must be entered by object code into the attached “Monthly Sales-
Reconcilation to Ledger Worksheet”. Non-taxable sales will be calculated automatically once gross sales and taxable
sales have been entered. These totals must agree with Appendix 2 which is representation of a North Carolina sales
and use tax return.
The total tax collected will populate into the second section of Appendix 1 under the "Monthly Worksheet" column.
Any necessary adjustments must be recorded in Object Code 2118 / Program Value 0133 including but not limited to:
· Adjustments for prior month return, refunds, or reclasses
· Any reclass for improperly booked sales tax (i.e. tax collected but booked improperly in revenue object code)
· Accrual of sales tax not collected to ensure that taxes inadvertently not collected from the customer are paid

Appendix 2
Taxable sales information must be entered by location in the "Input Information" section of the worksheet. The top
portion of the worksheet automatically calculates the sales tax due based on Appendix 1. Appendix 1 and 2 are the
underlying support for filed tax returns. However, all invoices and supporting documentation should be
maintained for 7 years for audits purposes.


Appendix 3
City and County sales tax rates. Please note that these rates are subject to change. Contact the tax office if you need to
verify the current rates.


Appendix4
To the extent that a department begins selling any additional products or services during the month, the Corporate Tax
Office must be informed within two weeks of the introduction of the new item. A “New Product/Service Notification
Worksheet”, attached should be submitted, and should contain the following information:
(a) A description of the product,
(b) When the product was introduced,
(c) What is the expected customer base and
(d) The 26-digit account number for reporting the new revenue stream

Centers must collaborate with the Corporate Tax Office as soon as possible regarding the taxability of any additional
products or services but no later than two weeks prior to the sales of the new item(s).
Trustees of the University of Pennsylvania                                  APPENDIX 1
Monthly Sales - Reconciliation to Ledger


Department:
Month/Year:

Note: There is an additional .25% county tax for Mecklenberg county (see appendix 3)


        Object                  Gross            Taxable   Non Taxable              Tax
        Codes                   Sales             Sales       Sales               Collected

                     4320   $            -   $         -            $0.00     $          -
                     4321   $            -   $         -            $0.00     $          -
                     4322   $            -   $         -            $0.00     $          -
                     4340   $            -   $         -            $0.00     $          -
                     4350   $            -   $         -            $0.00     $          -
                     4360   $            -   $         -            $0.00     $          -
                     4361   $            -   $         -            $0.00     $          -
                     4370   $            -   $         -            $0.00     $          -
                     4371   $            -   $         -            $0.00     $          -
                     4380   $            -   $         -            $0.00     $          -
                     4398   $            -   $         -            $0.00     $          -
                     4399   $            -   $         -            $0.00     $          -
                            $            -   $         -   $          -       $          -




                                Month          Monthly            BEN
                                Posted        Worksheet        Financials
Sales Tax                                    $       -
  Adjustments                                $       -
    Additions                                $       -




    Subtractions



Adjusted Sales Tax                           $         -   $           -
UNIVERSITY OF PENNSYLVANIA
North Carolina Department of Revenue                                         APPENDIX 2
                                        Dept                    0
                                       Month/Yr              1/0/00

   NC Taxable Gross Receipts     $             -

   Receipts exempt from tax      xxxxxxxxxxxxxxx

   Net Taxable Sales             $             -

   Tax Rate                                 5.75%

   NC State Sales Tax            $             -

   NC Local                      $             -

   Total                         $             -




                                                                                                    Input County Tax
                                     Input Info                                                           Rates
                                                                                                     See Appendix 3
                                                                                                                         Total
           City and County       Taxable Sale            State Rate             State Tax            County Rate       Local Tax

                                                  -          5.75%                          -                                 -
                                                  -          5.75%                          -                                 -
                                                  -          5.75%                          -                                 -
                                                             5.75%                          -                                 -
                                                             5.75%                          -                                 -
                                                             5.75%                          -                                 -
                                                             5.75%                          -                                 -
                                                             5.75%                          -                                 -
                                               0.00                                         -                                 -




      7/22/2010                   D:\Docstoc\Working\pdf\711904a3-3188-475a-bc9a-ef2db3618500.xls
Total Tax

      -
      -
      -
      -
      -
      -
      -
      -
      -




      7/22/2010   D:\Docstoc\Working\pdf\711904a3-3188-475a-bc9a-ef2db3618500.xls
APPENDIX 3


****NOTE**** RATES ARE SUBJECT TO CHANGE


Listed below by county are the combined (5.75% State rate plus applicable local rates) sales and use tax rates in effect:

County              Rate                  County                  Rate         County       Rate
Alamance              7.75%               Franklin                    7.75%    Pamlico         7.75%
Alexander             8.00%               Gaston                      7.75%    Pasquotank      7.75%
Alleghany             7.75%               Gates                       7.75%    Pender          7.75%
Anson                 7.75%               Graham                      7.75%    Perquimans      7.75%
Ashe                  7.75%               Granville                   7.75%    Person          7.75%
Avery                 7.75%               Greene                      7.75%    Pitt            8.00%
Beaufort              7.75%               Guilford                    7.75%    Polk            7.75%
Bertie                7.75%               Halifax                     7.75%    Randolph        7.75%
Bladen                7.75%               Harnett                     7.75%    Richmond        7.75%
Brunswick             7.75%               Haywood                     8.00%    Robeson         7.75%
Buncombe              7.75%               Henderson                   7.75%    Rockingham      7.75%
Burke                 7.75%               Hertford                    7.75%    Rowan           7.75%
Cabarrus              7.75%               Hoke                        7.75%    Rutherford      7.75%
Caldwell              7.75%               Hyde                        7.75%    Sampson         8.00%
Camden                7.75%               Iredell                     7.75%    Scotland        7.75%
Carteret              7.75%               Jackson                     7.75%    Stanly          7.75%
Caswell               7.75%               Johnston                    7.75%    Stokes          7.75%
Catawba               8.00%               Jones                       7.75%    Surry           8.00%
Chatham               7.75%               Lee                         7.75%    Swain           7.75%
Cherokee              7.75%               Lenoir                      7.75%    Transylvania    7.75%
Chowan                7.75%               Lincoln                     7.75%    Tyrrell         7.75%
Clay                  7.75%               Macon                       7.75%    Union           7.75%
Cleveland             7.75%               Madison                     7.75%    Vance           7.75%
Columbus              7.75%               Martin                      8.00%    Wake            7.75%
Craven                7.75%               McDowell                    7.75%    Warren          7.75%
Cumberland            8.00%               Mecklenburg *               8.25%    Washington      7.75%
Currituck             7.75%               Mitchell                    7.75%    Watauga         7.75%
Dare                  7.75%               Montgomery                  7.75%    Wayne           7.75%
Davidson              7.75%               Moore                       7.75%    Wilkes          7.75%
Davie                 7.75%               Nash                        7.75%    Wilson          7.75%
Duplin                7.75%               New Hanover                 7.75%    Yadkin          7.75%
Durham                7.75%               Northampton                 7.75%    Yancey          7.75%
Edgecombe             7.75%               Onslow                      7.75%
Forsyth               7.75%               Orange                      7.75%


* Includes the 0.5% local sales and use tax for public transportation.
ales and use tax rates in effect:
Trustees of the University of Pennsylvania                                                                                APPENDIX 4
New Product/Service Notification Worksheet

Department:
Month/Year:


                              Introduction
   New Product or Service          Date                                 Description                                Possible Customers




                            Please submit this form within 2 weeks of introduction of new product or service to: Corporate Tax Office
                                                                                                                 3451 Walnut Street
                                                                                                                 Room 329 Franklin Building
                                                                                                                 Philadelphia, PA 19104-6284

				
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