An often overlooked responsibility for businesses in NJ is sales tax and use tax. Understanding what is subject to sales tax in your business is critical to avoiding potentially severe penalties. How to deal with sales tax on products and services you consume in the operation and delivery of your business is important as well. There are some exclusions from paying sales tax depending on how the product or service is used in your business. What do you have to report and when regarding your sales?
Come hear from representative of the NJ State Department of Taxation about what your responsibilities are in this critical component of business operation in NJ.
The program will cover:
Understanding New Jersey’s Sales & Use Tax
- What is the difference between these taxes?
- When do I have to charge sales tax?
- Are There Any Exemptions to Paying Sales Tax?
- When do I have to pay or charge sales tax?
How to file and Pay Sales & Use Tax returns
- Responsibilities for collecting and tracking sales tax
- Methods for reporting and paying collected sales tax