I feel stupid asking this; I used to handle this long before computers, etc...but, drawing a blank and need quick answer or refreshing. When I am reporting sales for business--Is it total sales w/out tax? Thanks in advance :)
2007-05-11 06:44:17 · 4 answers · asked by Teri 0212 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
Yes, total sales w/o the tax. If you would feel more comfortable you can go to your State Revenue Dept.'s website and it has a link to the sales tax pages.
Good luck!
2007-05-11 06:50:10 · answer #1 · answered by mommafrog 3 · 0⤊ 0⤋
The sales tax collected is never considered your money so you should never include it in "sales".
It gets credited to "Sales Taxes Payable" or similar liability account as collected.
2007-05-11 07:09:33 · answer #2 · answered by Wayne Z 7 · 0⤊ 0⤋
You use the Turbo Timmy method of taxation. Don't pay it and if you get nominated for a political post you can pay it back with no penalties. Just explain to them that the tax code is too complex.
2016-05-20 22:37:39 · answer #3 · answered by vanessa 3 · 0⤊ 0⤋
yes
sales before tax
2007-05-11 10:32:40 · answer #4 · answered by Jo Blo 6 · 0⤊ 0⤋