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School Proms
Q.) Are school proms a NYS taxable event?
If so, the material’s purchased to decorate, the DJ or band fee, and refreshment costs were purchased by the club and paid the applicable sales tax. Should the amount of sales tax paid be credited when calculating to total sales tax payment for having the event? Or should the club credit the total cost of the event by the cost of goods and services that were purchased?
Are the Proms’ revenue from the sale of tickets is taxable?
A.) The prom is a taxable event. Regarding the materials and sales tax question the answer is NO. The club should be purchasing the materials, etc. that relate to the cost of the prom by using a resale certificate. There is nothing about any crediting provisions on sales tax available. Crediting would be an accounting concern.