How often are sales and use tax returns filed?
Generally, new businesses file Form OS-114 on a quarterly basis. The quarterly periods and return due dates are: Periods Due Dates January 1 – March 31 April 30 April 1 – June 30 July 31 July 1 – September 30 October 31 October 1 – December 31 January 31 If the businesss sales and use tax liability exceeds $4,000 per year, DRS may require it to file monthly sales and use tax returns. A business may request to file on an annual basis if its sales and use tax liability is less than $1,000 per year. All returns are due on the last day of the month following the end of the reporting period. Should a business file a return if it made no sales during the reporting period? Yes. Complete the return showing zero sales and zero tax due. On what price does a business compute sales tax? The tax is computed on the gross receipts or sales price of the sale, rental or lease of the goods or service. Tax is not computed on the businesss cost of goods or services. The tax must be billed to customers in
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A. Generally, sales and use tax returns must be filed on a monthly basis on or before the twentieth day of the month next succeeding the month for which the return is required to be made. However, if your sales and use tax liability for six (6) consecutive months has averaged less than two hundred dollars ($200) per month, a quarterly return may be made when specially authorized, in writing, by the Tax Administrator.
