Sales tax reporting
I am not clear on if i need to report sales tax to state when i file my taxes? my accountant is staying when you are registered with state you must report but i am also reading that amazon does this for you? can someone clear this up for me please?
Sales tax reporting
I am not clear on if i need to report sales tax to state when i file my taxes? my accountant is staying when you are registered with state you must report but i am also reading that amazon does this for you? can someone clear this up for me please?
7 respuestas
Seller_kIukTwdhvntAp
How it gets done will vary from state to state. Where I am I have to fill in the State Sales Tax report so that they know how much I sold EVERYWHERE. TRUST ME -- they WILL compare this to you state income tax form to be sure you are reporting all your sales and income.
THEN they allow me to deduct all out of state sales so there is a NET number for what was sold in my state.
THEN they allow me to say that Amazon, eBay. and other sites have collected and submitted the tax for X dollars of sales.
After that I am left with a net - net amount of sales that I have to go through and break down county by county so that every one of those gets their proper portion of the tax collection.
I only have to submit payment for the amounts NOT covered by Amazon and so on.
Seller_E54UocTxGrfq8
You may need to report the amount of sales tax that was collected on your behalf and then also report that it was paid by Amazon. That’s going to vary state by state.
Do you sell anywhere besides Amazon like on your own website, or in a physical store? If so, you may still need to register with your state (or other states) to collect and remit sales tax.
Seller_olet7eVOHxQZd
Every state seems to handle it differently. Mine does not want to know anything about marketplace sales. We just have to report the rest of the sales.
I think most states want to know the total, how much was marketplace, and then you pay on the difference.
The second option makes more sense to me. It allows some checking against what the marketplace files and what income taxes would report.
Seller_nRFmxiQg4EGrw
As others have stated, it varies from state to state. In NJ, I have to file quarterly, and report the sales.
But since I have no sales that are not on Amazon or other marketplaces, I pay nothing.
Amazon pays for you, but they do not file reports. So I suspect that your accountant is correct; just make sure that you’re not paying what you don’t need to.
Seller_olet7eVOHxQZd
Good reminder. Never fail to file on time. I think our state fines you $70 for not filing even if it would have been nothing owed.
