Sales and Use Taxes

Are you a merchant ( one who trades in commodities produced by other people)? Then you are supposed to collect and submit to your state revenue agency (monthly) Sales and Use tax by the 5th of every month (depending on the state).

The penalty for failure to file and submit Sales and Use tax can be pretty hefty. For example, in Virginia, the law provides for the penalty to be assessed at a rate of 6% per month or part of a month from the due date of the return until the return is filed, or until the maximum penalty of 30% has accrued.

Just like Payroll Taxes above, this process can be both time-consuming and very tedious. Just focus on building your business, and let’s take that burden from you.