Frequently
Asked Questions by PTA Treasurers
PTA organizations
classified as 501(c)(3) or 501(c)4 are exempt from
What
this means is:
·
PTAs do not have to add sales tax
to the purchase price of an item; collect the tax; or remit the tax to the
Department of Revenue (except student stores or book fairs).
·
PTAs do not have to pay sales tax
to suppliers/vendors of products that re being purchased for resale by the PTA
if the PTA provides a resale certificate to the supplier/vendor (except student
stores and book fairs).
Book
Fairs are like consignment sales. In
consignment sales, the items to be sold are given to the seller by the original
“owner” with the understanding that once the goods are sold, the income will
be remitted to the original “owner.” Sales
tax needs to be collected and remitted to the vendor.
The vendor pays the sales tax to the Department of Revenue.
A
copy of the WSPTA Sales Tax Bulletin can be downloaded from the WSPTA website
along with a copy of the resale certificate, and is included in the WSPTA
Leadership Guide under the Bylaws/Money Matters tab.
Inform
the member that the PTA will not longer accept checks from them.
This conversation needs to be handled discreetly.
Businesses have a list of people in the community who habitually write
NSF checks. The PTA can do that
also, as long as the list is kept confidential. It
may also be advisable to put an section in your Standing Rules that states that
any person writing NSF checks will have to pay all bank charges.
For
occasional NSF checks, you can call the bank or credit union and ask if there
are sufficient funds to cover the check before depositing it again.
To
help keep track of check writers, have parents put the student’s name and
teacher’s name/room number on each check.
No,
all volunteers, members, and participants at any PTA function are covered under
the insurance policy through AIM (in agreement with the Washington State PTA).
Yes.
Washington State PTA is now a 501(c) (3) organization so the State PTA
portion of the membership fee (currently $4.75) is now tax deductible. This was
not the case when Washington State PTA was a 501 (c)(4).
You
can request another audit with a different audit committee.
The
An audit can be
requested any time that there is a question about the financial well-being or
performance of the PTA.
All games of chance or
skill are considered part of the gambling event.
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