Topic Thread

Hemp Seed Oil

  • 1.  Hemp Seed Oil

    Bronze Most Valuable Member
    Posted 06-14-2019 07:46

    I am trying to determine if hemp seed oil is subject to sales tax in New York. There is nothing in the NY sales tax regulations specifically addressing this product. It does appear to fall under the classification of drugs and medicines in NY Tax Law 1115 but when you look to purchase the product in NY everyone is charging sales tax.

     

    If anyone can point me to specific guidance that addresses sales tax on this product it would be most appreciated

     

     

     

     

     

     

     

    Vincent J. Preto, CPA

    Senior Partner

    Wagner & Zwerman LLP

    201 Old Country Rd. Suite 202

    Melville, NY 11747

    Tel. (631) 777-1000 Ext. 340

    Fax  (631) 777-1008 

     

     

      logo-wagner-zwerman2                 image005.png@01D1E40C.9CB93920              aicpa-member                          

     

     

    **********************************************************************************************************************************************************************

    This email, and any attachments to it, may contain information that is privileged, confidential, and exempt from disclosure under applicable law.  If the reader of this email is not the intended recipient, you are notified that any use, dissemination, distribution, copying, or communication of this email is strictly prohibited.  If you have received this email in error, please notify the sender immediately by return email and delete the email and any attachments. 

     

    Unless specifically stated otherwise, the written advice in this e-mail or its attachments is not intended or written to be used for the purposes of avoiding penalties that may be imposed under the Internal Revenue Code.

     



  • 2.  RE: Hemp Seed Oil

    Platinum Most Valuable Member
    Posted 06-15-2019 06:34
    Vincent:

    I researched it on BNA and don't see if falling under any exemption.  I believe it is taxable as tangible personal property.

    ------------------------------
    Robert Brown
    ROBERT N. BROWN, CPA
    Jericho NY
    ------------------------------



  • 3.  RE: Hemp Seed Oil

    Bronze Most Valuable Member
    Posted 06-15-2019 08:32
    Thanks. That is what I concluded but I could no believe there was nothing in the NYS sales tax law specifically addressing it ( we use RIA as our research tool). It seems that it could have qualified under drugs and medicines but It was not clear. So I went online to dealers with ny nexus and they all charged sales tax.

    not the way i like to reach conclusions but had no choice.

    now i am convinced based on your response.

    ------------------------------
    Vincent J. Preto , CPA
    Wagner & Zwerman LLP
    Melville, NY
    631-777-1000 x 340
    ------------------------------