If you own a business in NY State you will be faced with the sales tax dilemma. The dilemma is: Does your business need to charge sales tax and if so in what instances do you need to collect it? Sales and use tax laws are often complicated and hard to navigate. Because of the sales tax law intricacies small businesses often pay too much or too little in sales tax. Sales tax oversights cause an undue strain on a small business’s bottom line. Determining your sales tax obligations will depend on what type of business you have and the products and services you provide. Each and every business will have different requirements in regards to when they charge sales tax and when sales tax is required to be remitted to New York State.
Things to consider in regards to sales tax:
- What products and services do you provide that require you to collect sales tax?
- In what instances are you exempt from sales tax?
- How do you obtain the authority to collect sales tax in New York State?
- When do you have to remit sales tax you have collected?
- How do you pay your sales tax to New York State?
- Do you need to charge sales tax on online sales?
- What are your sales tax obligations if you have sales in another state?
- How do you track your taxable sales?
- When do you have to file your sales tax return in New York State?
- If you paid too much in sales tax, can you get a refund?
- What happens if you do not remit or file your sales tax returns as required?
Having a sales tax expert in your corner puts your sales tax dilemma into perspective. Getting help to navigate the complex laws saves your business from overpaying sales tax and ensures all your sales tax obligations are met. We maintain the sales tax knowledge so you can focus on growing your business. Call Gleason Tax Advisory today to set up a consultation to review your current sales tax procedures in Chautauqua and Cattaraugus Counties.