Sales Tax Services in NYC
New York City and NY State apply separate sales and use tax rates on consumption of various goods and services. Collection of these taxes is a liability of a business. Increasing volumes of transactions and sales require external support with tax reporting and necessity to have strong sales and use tax accountants. Real Tax USA advisors can help with sales tax computations and filing as well as with sales and use tax consulting.
Help With Sales Tax for Business
Tax law changes periodically, especially when the federal and state governments have a budget deficit. The state governments especially concentrate on a sales tax and a use tax, since both taxes can be managed on a state level. Goods and services subject to sales tax include:
- Tangible personal property
- Utility services
- Food and beverages
- Hospitality services
- A certain list of other services.
The businesses should collect sales tax where the taxable goods are supplied or services are rendered. The use tax should be charged when a customer buys products outside the state of domicile, consumes such goods and services, and does not pay local sales tax.
The corporations or entrepreneurs transfer collected sales and use tax to the state or municipal budget as well as prepare and submit relevant monthly or quarterly tax returns. Since the form of tax return is not easy, some transactions may be tax exempted and use tax liabilities must be calculated, it is easier for taxpayers to engage tax professionals supporting preparation of returns and filing simultaneously.
External tax advisors can review accounting records prepared by the business and use modern technologies to automate the process of sales and use tax preparation. In addition, a tax professional has more expertise in communication with tax authorities to ensure that his client remains fully compliant with tax law requirements.
Collecting sales tax and reporting correctly can be hard for any business. depending on how much you sell, how often you sell it, or where your customers are from, determining which sales tax to collect and report correctly can be tricky. If you have a business in NYC and need to collect the sales tax as well as report correctly, we do all that for you.
Sales and Use Tax Consulting
In NYC and state the entity, planning to make taxable sales, must apply for a certificate of authority to state bodies. A registered agent or tax accountant can support this process in order to obtain approval on the application form. Real Tax USA can support it and become a trusted advisor for a small business.
Real Tax USA EAs and accountants render high-quality and client-oriented professional sales tax services. As a sales and use tax accountants Real Tax USA has solid experience in the area of tax in New York, especially in sales taxes for a small business. You may need assistance in legislation treatment, ongoing consulting, tax ruling obtaining, etc. Accountants in Real Tax USA can help with all these tasks.
Due to a time constraint of tax preparation and strict filing deadlines, processing requires significant labor, time resources, and taxation knowledge. Outsourcing all these processes to Real Tax USA may be a good alternative for a business to save money, reduce costs and ensure that tax returns will be submitted in time.
In case of tax audit or tax request from the IRS, Real Tax USA advisors can solve all potential problems on behalf of the client. If you are a small business owner and need reliable taxes help, involve Real Tax USA as sales and use the tax accountant of your company.