Online USF Tax Information:
USF’s Online Business Procedures can be found on the USF Portal (MyUSF) with a USF NetID. The same information can also be accessed via the following link:
Find USF Online Business Processes
- Payments to Individuals:
Payments to individuals may be processed via Financial Aid, Purchasing/Accounts Payable, Travel, or Payroll. Processing will depend on the nature of the payment and the relationship between USF and the recipient. Additional information regarding specific payment categories is provided via the link above.
- Tax Implications for Scholarship and Fellowship Recipients:
- Sales Tax:
In general, revenue from the sale of tangible personal property or lease of tangible and real property is subject to Florida sales tax. The Tax Department is available to review revenues collected by the university to determine if transaction is subject to state and local sales taxes. Additional information regarding specific transactions and specific exemptions is provided via the link above.
- Unrelated Business Income Tax (UBIT):
Revenue generating activities not directly related to USF's exempt purposes of teaching, research or public service may be subject to federal unrelated business income tax (UBIT). Congress imposed UBIT on exempt organizations to eliminate a source of unfair competition by placing tax exempt organizations on the same basis as nonexempt organizations with which they compete. Thus, 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. Additional information regarding specific activities that may result in UBIT is provided via the link above.
- Vendor Payments:
- Payments To Foreign Vendors - Process for making payments to foreign vendors
- Purchasing Services Forms - Includes link to USF Sales Tax Exemption Certificate (DR-14), USF Substitute W-9 Request Form, Independent Contractor Worksheet and Instructions
- USF FEID Numbers - FEID numbers assigned to USF and related entities
- Accounting Services Forms - Includes link to USF Form W-9 (provided when USF is vendor)
Where to Send IRS Forms 1099 Received by USF
- 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.
- Filing Requirements (foreign bank accounts)
- University Funds (foreign bank accounts)
- Personal Funds (foreign bank accounts)
Form 6166 U.S. Residency Certification Letter
- USF Exempt Status
- Tax Exempt Bonds :
- The U.S. Tax Code provides rules and regulations regarding property financed with tax exempt bonds. Universities must manage both arbitrage and private use associated with tax exempt bonds. Adequate records supporting private use of tax-exempt bond financed facilities must be maintained. Contact University Treasurer Fell Stubbs or 813-974-3298 for additional information.
- Forms 8038G and GC Procedure - leases and installment sales
- Forms 8038G and GC Checklist - leases and installment sales
- Telecommunication Services –
Location: Tampa Campus
Hours: 8:00 a.m. – 5:00 p.m.
Address: University Controller’s Office
University of South Florida
4202 E. Fowler Ave., ALN 147
Tampa, FL 33620
Tax Advisors: Anne Jetmundsen and Michelle Verdisco