Sales tax filing is a task many dread upon Its that periodic activity that happens frequently enough to be stressed about yet so infrequent that you forget just how exactly you accomplished it last time. Such is aura of sales tax return date that many even forget to file it at all. But fear not anymore just follow the below tips to make yourself friends with the sales tax routine.
- Get to know about tax filing date : Unlike income tax whose due date is always April 15th or otherwise known as “the big day,” there is no one particular sales tax filing due date. Each state sets its own sales tax filing due dates
- Keep in check your sales tax filing frequency : High sales tax frequency is kind of the result of your high sales volume. Depending on your sales you need to file tax return monthly, quarterly or annually.
However, there is a time of the year when states make changes to your sales tax filing accounts. If your sales volume changes for lower or higher sales volume over the past year, the state (or states) where you file sales tax may change how often they want to hear from you. Be on the lookout for a letter from your state’s taxing authority assigning you a new sales tax filing frequency.
- The most Important: Never miss to file a return : Even if you didn’t get any sales tax from your customers in that state over the taxable period, file a sales tax return during your due date. States consider a sales tax filing to be a “check-in”. Failing to file can result in a fine or even the decline of your sales tax permit. To help you with the filing process Paypal has now released the facility to link up Paypal with Taxjar with full Paypal tech support