Taxation on Sales of Goods or Services
Overview
The Auxiliary Accounting Office develops and monitors procedures to ensure that the University, as a large complex and dynamic institution, is appropriately following various tax laws governing unrelated business income tax, sales tax, local tax and more. In order to achieve compliance related to revenue generated from sales of goods or services, the Auxiliary Accounting Office:
- Prepares and ensures timely filing and payment of the university federal, state, and local taxes
- Responds to tax-related questions from academic and administrative departments
- In collaboration with Tax Services, conducts research and advises on tax consequences of the university’s revenue generating transactions
- Develops procedures and reporting systems to ensure compliance with federal and state tax laws
- Tracks university-related legislative tax developments at the federal, state and local level and educates the university community accordingly
- Functions as the university liaison with federal, state and local tax authorities as well as outside consulting firms with respect to tax issues
The Federal Internal Revenue Service and State Department of Revenue routinely make audits of universities. Failure to comply with the various tax regulations that affect universities are not only costly but can be harmful to the image and prestige of the university.
Please call the Auxiliary Accounting Office at (352) 294-7236 if you need assistance.
Learn more about taxes at the University of Florida
Last Reviewed
Last reviewed on 06/28/2024
Contacts
Auxiliary Accounting: (352) 294-7236
Tax Services: (352) 294-7266