Episode 27

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Published on:

22nd Jul 2021

Unclaimed property

Stacey Roberts and Connie Zoerink, from TaxOps’ SALTovation Team, continue their mini-series about transaction taxes with talk about unclaimed property. While unclaimed property is not a tax, it does fall into the state and local tax area.

 


What You Will Discover:


  • [00:47] What is unclaimed property


  • [01:50] Reporting requirements


  • [03:39] States can audit unclaimed property


  • [04:55] Reporting deadlines


  • [06:01] Where to go to find out if you have money owed to you

 


Quotables:


  • “Unclaimed property is actually not a tax, but it typically falls in the state and local tax area just because it’s something that is reportable or claimable from every state.” - Connie Zoerink [01:29]


  • “Like you said, it’s not a tax, but it’s a reporting that taxpayers really need to be aware of, and in some cases, this could be low-hanging fruit for some states.” - Stacey Roberts [04:42]


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Production Support

This episode was produced with support from Truth Work Media. www.truthworkmedia.com

Mentioned in this episode:

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Advanced Sales and Use Tax Workshop

Take your sales tax to the next level at Advanced Sales and Use Tax Workshop, February 19-21 in Nashville. Diane Yetter and the Sales Tax Institute’s industry-leading faculty provide individualized training, valuable resources, and practical solutions. Expand your network and earn 23 CPE credits. Visit the link in the show notes and use the code SALTOV10 for 10% off. Save your spot now!" https://keap.page/xp141/saltovation-podcast.htm

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About the Podcast

SALTovation: Making Sense of State and Local Tax
Welcome to SALTovation. The SALTovation show is a podcast series featuring the leading voices in state and local tax (SALT). Here we talk about issues, strategies, and planning tools to help you make sense of SALT. Because, in SALT, there is no “one and done.” SALT is a puzzle of ever-changing pieces. Solving that puzzle is our business at SALTovation. Tens of thousands of listeners know they won't get tax talk as usual with the SALTovation team. Our team is known for straight-talk with a flair for fun, providing clarity and opinions that move businesses forward with confidence.

Attorney, CPA, speaker, and writer Judy Vorndran leads the SALTovation team as they go inside business to help deal with the daily operations and long-term strategies of making SALT less “taxing.” Judy has spent more than 25 years advocating for businesses with innovative strategies, renowned knowledge and experience. She has helped guide thousands of taxpayers across the nation and globally through the morass of SALT, freeing them to concentrate on growth. Joining Judy are the wickedly smart members of the SALTovation team, who have seen, worked with and tamed some of the most prickly issues in SALT. They enjoy sharing their stories and knowledge with listeners.

Solving the SALT puzzle doesn’t happen in a vacuum; it takes a community. So, we invite leaders in business and state and local tax to share their stories, challenges and successes on this show. Drop us a line at SALTovation.com if you'd like to join the conversation and tune into our regular series at TaxOps.com.