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Reply by smitdog

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Posted on Simple and accurate way to charge sales tax?

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smitdog

350 posts in 2101 days


#1 posted 05-12-2015 02:55 PM

Bondo is on the money, and all the gov needs is totals for the quarter/semi annual or whatever you need to do based on your volume (at least here in Ohio). So you can just total up everything you sell through those dates and use Bondo’s formula to figure out your gross sales and tax owed. You can do it that way as long as you sell from one county, my wife has been self empoyed for years and we’ve always done it that way with no issues. Not sure what the laws are if you move around a lot and sell at shows, you may have to change the tax rate depending on where you are and that’s more of a pain to keep track of. Gross sales divided by (1+tax rate) = net sales then gross sales minus net sales = tax due.

-- Jarrett - Mount Vernon, Ohio


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