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What is sales tax?

It is kind a Tariff or tax, which is charged to buyer on purchases of taxable products.
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Merridy Reth   wrote on : Mon Feb 22nd,2010   Back to Article

I am opening a gift shop whereby I am selling new merchandise. My question is this--when I purchased the products that I am selling I paid sales tax to the company that I purchased the products from so my understanding is that I now sell this merchandise to my customers as a reseller and I do not collect sales tax because I have already paid the tax. Is this correct ? I know that when I go to market and purchase items for resale I use my sales tax i.d. number so that I do not have to pay sales tax until I actually sell the items in my store.

Reply : infotaxsquare.com
 
Dear Merridy Reth; Thanks for choosing InfoTaxSquare.com for your business needs. Yes your approach ir correct. But to know more about that please use following link.

How Sales is Taxed:

https://www.infotaxsquare.com/article/how-sales-is-taxed.html

Sales Tax Vendor ID Number Application:

https://www.infotaxsquare.com/forms/sales_tax_vendor_id.php


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