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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Sales tax issue Posted by Jk on June 27, 2003 at 10:58 AM In Reply to: Sales tax issue posted by Rudy on June 27, 2003 at 0:24 AM : Regarding sales tax charged by rehab contractors and suppliers on the house I'm fixing for immediate resale, can I use my corporations resale license to avoid the sales tax at the time I purchase these materials? : If so, how do I then charge my buyer sales tax, and how is it reported? : (or am I answering my own question,i.e. I must pay the sales tax when I buy the materials because there's no way to account for it later?) You should not use your resale license to avoid paying sales tax on rehab supplies because you are not reselling those supplies. You are consuming the supplies to create final product. Trying to get a buyer to reimburse you for sales tax during a purchase would complicate the sale and confuse everyone. Consult with your tax advisor for additional information. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Regarding sales tax charged by rehab contractors and suppliers on the house I'm fixing for immediate resale, can I use my corporations resale license to avoid the sales tax at the time I purchase these materials? : : If so, how do I then charge my buyer sales tax, and how is it reported? : : (or am I answering my own question,i.e. I must pay the sales tax when I buy the materials because there's no way to account for it later?) : You should not use your resale license to avoid paying sales tax on rehab supplies because you are not reselling those supplies. You are consuming the supplies to create final product. Trying to get a buyer to reimburse you for sales tax during a purchase would complicate the sale and confuse everyone. Consult with your tax advisor for additional information. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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