Individual Consumer's Use Tax Form

Instructions and help about Individual Consumer's Use Tax

Did you know that state tax audits on companies  are increasing? Yes, increasing with a major   focus on consumer use tax. And not just in  a company's home state but in all the states   where they purchase or use their goods. So how  do you know if your consumer used tax compliant?   A lot of businesses assume that if they pay  their vendor invoices including the sales tax,   they have no further liability. This is simply  untrue. Let me explain how consumer use tax works.   Consumer use tax is imposed by states on a  buyer when an out-of-state vendor doesn't   collect sales tax thereby transferring  the consumer use tax burden to the buyer.   uh-oh Additionally, consumer use tax may  be due where the taxable goods or services   are actually used, which may be different  than where they were initially received.   In order to be tax compliant, a buyer  has to audit their purchases and usage   then identify and self-assess consumer use tax  where it applie