< iframe width="480" elevation="320" src="https://www.youtube.com/embed/TakFJCglSIU?rel=0" frameborder="0" allowfullscreen >< img style="float: left; margin:0 5px 5px 0;" src="https://taxdr.org/wp-content/uploads/2021/09/qJiMSl.jpg"/ > With states more boldy imposing state as well as regional tax obligations, producers can be placing themselves in danger of disobedience-- specifically with the tax obligation regulation changes we have actually seen over the last few years. Producers usually aren't aware they may need to file added state revenue tax obligation or sales income tax return in various other states. On this episode of Moore on Production, Mike and also James Moore tax obligation supervisor Tune Lechleidner review the areas of risk that must worry your business. Areas covered consist of sales tax obligation (consisting of exceptions for production), income tax obligations in other states, and also how the value of your company can be negatively affected if you haven't been compliant with tax regulations. Register to obtain Moore in Production notifications when new episodes are released: https://www.jmco.com/moore-on-manufacturing/. To find out more about the James Moore Production Team: https://www.jmco.com/industries/manufacturing/ 00:10-- Welcome & Introductions 01:53-- Two elements: Buying & Selling 03:06-- Materials used in manufacturing process 03:53-- Manufacturing tools that goes through sales tax 04:37-- Buying out of state and also paying sales tax 05:00-- Marketing scenarios 05:37-- Exemption Certificate 7:05-- Wayfair limits 9:40-- Sales tax on industrial services and also automobile leases 10:41-- Nexus, the forgotten sales tax 11:28-- Income tax obligation as well as risk for manufacturing 13:05-- Restricting the exhausting power of States 15:55-- Gross receipts tax obligations 17:18-- Every State has it's their own tax obligation guidelines 18:53-- Due persistance and threat 21:36-- Sales tax exceptions 23:52-- Wrap-up