Affiliates
Tax Advisory Services
CONTACT INFORMATION AND LINKS
The University of South Florida (USF) Tax Advisors in the University Controllers’ Office are available to assist departments with various tax matters. Individuals with questions should refer to Contact Information link in order to determine the appropriate departmental contact.
Initiating a Tax Advisory Service Project
Performance of a Tax Advisory Service Project
PAYMENTS TO INDIVIDUALS
USF may have tax reporting or withholding requirements when it makes payments (cash, gift cards, tangible items) to individuals. USF Departments are responsible for processing and/or notifying the appropriate area (Payroll, Accounts Payable or University Scholarships and Financial Aid Services) as directed.
Links to Additional Information
SALES TAX
The State of Florida imposes a tax on all sales of tangible personal property and certain other transactions. USF Departments are responsible for collecting sales tax and depositing in appropriate university account as directed.
Links to Additional Information
UNRELATED BUSINESS INCOME TAX (UBIT)
Revenue generating activities not directly related to USF’s exempt purposes of teaching, research, community service or technological innovation may be subject to federal unrelated business income tax (UBIT). When USF earns revenue from a trade or business, regularly carried on, that is not related to USF’s mission it may result in UBIT. Links to additional detail and examples of activities that may result in UBIT are provided.
Links to Additional Information
VENDOR PAYMENTS AND NON-CASH TRADE
Information for USF Departments making cash payments to U.S. or foreign vendors or providing non-cash payments or “trade” in exchange for goods or services.
USF FORMS 1099 AND W-9
USF departments may receive Forms 1099 from businesses that make payments to USF during a calendar year. Those businesses may also request USF provide a completed IRS Form W-9.
BANK ACCOUNTS (FOREIGN AND DOMESTIC)
USF departments may not open any bank account (domestic or foreign) without approval from the University Controller’s Office and Finance/Budget Management Council. There are tax considerations related to all bank accounts.
USF EXEMPT STATUS AND RESIDENCY CERTIFICATION
USF may be required to provide documentation of USF’s exempt status for grant application or other purposes. Payments from foreign entities to USF may be subject to foreign income tax or VAT withholding. USF may be able to reduce or eliminate foreign tax withholding by providing IRS Form 6166. Departments should refer to link to additional information.
Form 6166 Residency Certification
TAX EXEMPT BONDS
The U.S. Tax Code provides rules and regulations regarding property financed with tax exempt bonds.
TELECOMMUNICATION SERVICES
Telecommunication service revenue received from non-exempt organizations or individuals may be subject to Communication Service Tax (CST). CST applies to telecommunications, video, direct-to-home satellite, and related services and includes voice, data, audio, video, or any other information or signals, transmitted by any medium. The tax is comprised of a state and local portion and each local taxing jurisdiction has a specific rate.