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SALES IN USE TAX
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USE Tax
The seller collects sales tax from the buyer at the moment of purchase for the products and services sold.
Use tax applies to both goods and services.
Consider the following scenario:
- If you did not pay sales tax on a taxable item, you must pay use tax.
- You can deduct tax-exempt products if you plan to resale them and subsequently use them for business or personal reasons.
- A person who purchases taxable things outside of the country and brings them into the country (or has them shipped to the country) will owe use tax because the item was not subject to sales tax.
Here are some pointers on how to fill out your use tax form
01
Make sure you file and pay your taxes on time
02
Fill in the blanks on the appropriate line with your transactions
03
Taxes collected are not included in gross sales
04
Fill in all of the required fields on the return
05
Include the discretionary sales surtax in the sales tax calculation
06
On the deadline, initiate electronic payments and receive a confirmation number
Conclusion
Combining the state tax rate with the local rate(s) will yield the tax. Round up or down to the nearest full cent when applying the combined rate to the taxable sale price. File your combined sales and use tax return along with the municipal sales and use tax collected. The municipal schedules of the return cover taxes collected in the city and country.