Question: Do I have to collect sales tax for out-of-state sales? It depends, and it’s complicated. State governments would like to collect as much sales tax as possible and, with declining revenues over the last several years, are looking to every possible source.
Read MoreTag: Sales tax
Ask the Accountant
Question: When I’m not sure how to make an entry in QuickBooks, should I make a general journal entry?
Read MoreIs There a Way to Handle Sales Taxes in QuickBooks If You Owe Multiple Government Agencies?
Yes, QuickBooks allows you to set up each portion of sales taxes separately as a sales tax item and then as a group sales tax. For instance, in North Carolina we must collect sales tax for state, county and transit taxes.
Read More