2007-02-25 14:12:07 · 4 answers · asked by scott l 1 in Business & Finance ➔ Corporations
No, because sales tax collected is not revenue to you, it is revenue to the state. You are just an intermediary collecting the tax. The accounting for it should be to record it as a liability until it is paid to the state. It is not included in your sales.
2007-02-25 14:28:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Sales tax you collected were never yours. You were holding them for the government. They shouldn't show up on your tax return at all.
2007-02-25 22:17:32 · answer #2 · answered by Al 4 · 0⤊ 0⤋
No you do not have to claim them as income because you are to then, pay them to the state. Even if you were to claim them you would get to deduct them.
2007-02-25 22:16:40 · answer #3 · answered by darrenwelsh429 2 · 0⤊ 0⤋
NO
2007-02-25 22:15:12 · answer #4 · answered by cork 7 · 0⤊ 0⤋