Sales and Use Tax: Do's and Don'ts

Art buyers are regularly faced with the complexities of sales and use tax.

When purchasing art, it is important to be aware of the various jurisdictions that may be relevant, as well as the compliance requirements and potential exemptions. Depending on the state in which the purchase is made, sales and use tax may be applicable. Additionally, there may be other local taxes that apply. It is important to research the applicable laws in order to ensure compliance. Exemptions from sales and use tax may be available for certain types of purchases. If you are unsure whether an exemption applies, it is advisable to seek guidance from a tax professional.

Discussion Between Sales and Use Tax Experts Georges Lederman and Patricia Pernes

This is a discussion about Sales and Use Tax between Georges Lederman, partner in the law firm of Pearlstein, McCullough & Lederman LLP and Patricia Pernes, Esq. is a Tax Consultant in the Deloitte Tax, LLP Business Tax Services. Together, they will cover the basics of sales and use tax, and in the context of several case studies, dive deeper into the details pertaining to tax jurisdictions relevant to art purchasers, tax compliance requirements and potential exemptions.

This session took place at The Accessible Art Fair, which breaks barriers by enabling expertly vetted artists to show and sell their work directly to collectors at the iconic New York City landmark, the National Arts Club in Gramercy Park.

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Speakers

Georges Lederman

Georges Lederman, partner in the law firm of Pearlstein, McCullough & Lederman LLP, is an experienced white collar criminal defense attorney and civil litigator who has focused on representing art world clients over the past 15 years. He has tried over 30 felony jury trials to verdict and has represented collectors, art dealers, galleries and auction houses before federal and state law...

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Patricia Pernes

Patricia Pernes, Esq. is a Tax Consultant in the Deloitte Tax, LLP Business Tax Services practice and is part of the Deloitte Art & Finance Group. Her experience includes work with the Taxpayer Advocate Service of the Internal Revenue Service and the Connecticut Commission on Human Rights.
Patricia holds a JD/MBA from the University of Connecticut with a certificate in tax, having...

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