sale tax
how do you take a credit against sales tax when my company has purchsed supplies and paid the sales tax on them?
70
71
dSnRZytYur4izzacwZ5xHE
2 Replies
03/17/11 10:45pm PDT
Hi, debmartin
you can do it one of two ways.........expense the entire purchase (including sales tax you paid) or you can break it down. ie: supplies expense and sales tax expense (not to be confused with your sales tax liability which is a trust account.)
Rustler
Questions asked: 129
Questions answered: 41411
Points earned: 102640
Questions answered: 41411
Points earned: 102640
Allstar
Advisory council of community power users.
Intuit Moderator
Mod/Co-mod
03/18/11 2:59am PDT
Latest post
If your state allows you to take a sales tax credit for sales tax you paid to buy items you sell, - sell not use.
That credit is not taken until you file the state sales tax forms.
If I've helped, mark it solved.
My QB tips Blog >> http://onsale-apparel.com/Rust...
When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.
My QB tips Blog >> http://onsale-apparel.com/Rust...
When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.
