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Finances & Funds
Revenue recorded in the following NAP accounts will be taxable in several states; codes 4010 (Merchandise revenue), 4012 (T-shirts revenue), 4024 (Concessions revenue), 4027 (Concessions – Packaged). The same is true for Expense codes that are noted in the memo section of each check. The expense codes that are noted in the memo section of each check are entered into AYSO’s financial system which is used to create reports to calculate the fees due and file each state’s sales tax return. The taxable expense codes are; 5105-5108 (Uniforms-NO TAX PAID), 5130 (Equipment) and 5135 (Equipment – NO TAX PAID). It is critical that expenses are being coded to the proper code to insure accurate tax filings and fees. To verify the taxable codes for your state, email salestax@ayso.
Yes! Generally, non-taxable fundraising activities fall into the category of sales of intangible items, such as car washes or often times sales through a third party. Revenue from non-taxable fundraisers should be coded to 4040 – Fundraising – Other which is a non-taxable account code.
Some states consider fundraising income to be taxable. Examples of taxable fundraisers are concessions and merchandise sales such as pins or t-shirts. There are also a number of states that consider player uniforms taxable because the player pays for the uniform either out right or within the registration fee. There are also a few states that consider all purchases to be taxable.