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October 14, 2018

sales tax

  • October 14, 2018
  • 2 replies
  • 0 views

when a company sells to other states, how does it need to report sales tax?

    2 replies

    Raywhite28
    October 14, 2018

    Since the Supreme Courts ruling on South Dakota vs Wayfair 24 states have done the following.

     

    You need to read it & then talk to your accountant. You can be on the hook for not collecting sales tax when you should have been doing so.

     

    https://www.state.nj.us/treasury/taxation/remotesellers.shtml

    Regina_Lend_A_Hand_Accounting
    October 14, 2018

    You should report your gross revenue and deduct the out-of-state sales on your state B&O tax return according to the department of revenue rules for your state.