North Carolina Resale Reporting Function
Now Available
by Dan Pullium, Director of Government Relations
On July 18, 2008, the North Carolina Legislature passed Senate Bill 1407 (Session Law 2008-58). Governor Michael Easley signed the measure into law on August 3, 2008 (G.S. 14-344.1).
This new law requires resellers to file monthly sales reports with the North Carolina Department of Revenue. The monthly reports are due on the 10th of each month and should contain information about the gross receipts received for ticket re-sales in the previous month.
TicketNetwork has developed the "North Carolina Internet Resale of Admission Tickets Report" to assist North Carolina brokers with the filing of this new report. Instructions on completing the new report are listed below.
North Carolina brokers who have questions or require additional assistance with the report should contact TicketNetwork Account Management at 860-870-3400, Option 5 for more information or assistance.
Finally, TicketNetwork recommends that all North Carolina brokers consult their local legal and accounting professionals to ensure full compliance with all laws, regulations and rules in the state of North Carolina.
A copy of the new law can be found at: http://www.ncleg.net/Sessions/2007/Bills/Senate/PDF/S1407v8.pdf
Instructions: North Carolina Internet Resale
of Admission Tickets Report
In your Point-Of-Sale select Reports>>Management>>Sales>>Event Detail as shown below:
Drop down the filter to choose Previous Month then verify the date is correct. Click on Load Data as shown below:
Then choose NC Internet Resale of Admission Tickets from the Select Saved Filter as shown below to display the data for qualifying transactions and select Next from the bottom right of the screen:
This brings up the calculation screen where we set the fields for Revenue and Cost Calculations. (This is only required the first time this action is chosen) This is where we have to edit the default settings. For revenue we select sold price and click on Add Field to fill the revenue field as shown below:
Next, we set the costs by clicking the radio button in front of the costs field. This calculation will be based on the following fields: Ticket Cost+PO Shipping+PO Expense+PO Tax. Select each field, then click on Add Field then the + symbol until the line reads as shown in the screen shot. Next you want to drop down the template to read NC Internet Resale of Admission Tickets. Click on the Save Profit Calculation with Selected Template button to save the calculation criteria, as seen below:
You will see the following confirmation message:
Click on OK and your report will open on another tab with all the info filled in.
Disclaimer: Nothing in this Newsletter should be interpreted as legal advice. This is information only, and TicketNetwork recommends you speak with your lawyer and/or accountant for specific legal advice.
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