My business situation involves a sales contract signed prior to March 31, but with installment payments spanning from April 15 until Dec. 31, 2008. What sales tax rate should I charge?
Generally, the sale tax rate would be whichever is in effect the date the business records the sale in its accounting records. However, some businesses use other methods of accounting. For businesses that use methods other than the accrual method, the Department recommends they consult with a qualified accounting professional.
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