Quote:
Originally Posted by Exhibitman
No, that is incorrect. The sales tax system is self-reporting: the merchant calculates, collects and remits with a tax return the merchant prepares. The harder it is to calculate and track the more trouble it is for the merchant and the more likely the merchant will mess up and owe penalties and interest. Having to collect tax on interstate and intrastate sales will actually be a relief for some businesses because there will no longer be a need to keep track of as many forms of sales. Right now, they have to track sales by jurisdiction and make intra v inter state calculations.
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Massachusetts requires reporting sales anywhere annually to monthly depending on sales. 1201 makes it monthly. The form is pretty simple, but at least when I had a resale number filing electronically was required. Nobody is required to file/pay earlier, but I think they're ok with getting paid more often.
In 2 years I had no in-state sales.
I was mostly kidding about the junk wax, I was picturing them trying to work out a few million individual .01 sales.
One of the places I used to go got in trouble - not a lot, but trouble- because they included the tax in the item price. Not bad if you've got 10 things at $1 back when the rate was 5%. But with odd amounts and rounding if you do that you collect more tax than you should.