Sheet 1: Filing Procedures

	
	

		
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 5th 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-Reconciliation 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 Wisconsin 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 0149  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 audit purposes.
	
	

		


	
	

		


	
	

		
Appendix 3
	
	

		
County and Stadium 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).
	



Sheet 2: Appendix 1

	
	
	
	
	
	

		
 Trustees of the University of Pennsylvania 
		


		


		


		


		
APPENDIX 1
	
	

		
 Monthly Sales - Reconciliation to Ledger 
		


		


		


		


		


	
	

		


		


		


		


		


		


	
	

		


		


		


		


		


		


	
	

		
 Department:       
		


		


		


		


		


	
	

		
 Month/Year:       
		


		


		


		


		


	
	

		


		


		


		


		


		


	
	

		
Note: The state tax rate is 5% and varies by 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
		


		
 $-   
		
 $-   
		


		


	



Sheet 3: Appendix 2

	
	
	
	
	
	
	
	

		
UNIVERSITY OF PENNSYLVANIA
		


		


		


		


		


		
APPENDIX 2
	
	

		
Wisconsin Tax Commission
		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		
1
		
Total Sales (Whole Dollars)
		
 $-   
		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		
2
		
Subtractions from sales
		
 $-   
		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		
3
		
Net Taxable Sales
		
 $-   
		


		


		


		


	
	

		


		


		


		
Tax Rate
		


		


		


	
	

		
4
		
State Tax
		
 $-   
		
5.00%
		


		
 $-   
		


	
	

		


		


		


		


		


		


		


	
	

		
5
		
Local Tax
		


		


		


		


		


	
	

		


		
     County (Schedule 1)
		


		


		


		
 $-   
		


	
	

		


		
    Stadium (Schedule 2)
		


		


		


		
 $-   
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		
 Grand Total 
		


		


		
 $-   
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		
Schedule 1
		
     Input Info
		
See Appendix 3
		


		


		


	
	

		


		

 
		
		


		


		


		


	
	

		


		


		


		


		


	
	

		


		
County Rate
		


		
County tax
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		
0.00
		


		


		
 -   
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


	
	

		


		
Schedule 2
		
     Input Info
		
See Appendix 3
		


		


		


	
	

		


		

 
		
		

 
		
		


		


		


		


	
	

		


		


		


		


		


	
	

		


		
Stadium rate
		


		
Stadium Tax
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		


		
0.10%
		


		
 -   
		


	
	

		


		


		


		
0.10%
		


		
 -   
		


	
	

		


		


		


		
0.10%
		


		
 -   
		


	
	

		


		


		


		
0.50%
		


		
 -   
		


	
	

		


		


		


		


		


		


		


	
	

		


		


		
0.00
		


		


		
 -