At GBS Group, we’ll get the report ready and help your business prepare for due payments. Filing a correct sales and use tax return requires precision. It’s vital that your business does not pay more in taxes than necessary.
Our team understand the importance of filing and paying on time to avoid penalties and interest.
Although sales and use tax are reported in the US in similar forms across most states, it is important to understand how to properly do it. For instance, the application of one excludes the application of the other in a single transaction.
“When the states first enacted their sales taxes, the tax was imposed only on in-state sales. There was no use tax. As businesses began to offer delivery services and customers realized they could avoid sales taxes by ordering products from businesses in a different state, the complementary use tax was enacted. Currently, every state that imposes a general sales tax also imposes a use tax.” – Source: Sales Tax Institute