When dealing with sales and use tax, knowing what you need is
half the battle. In this month's "Financial Fitness,"
Karen Stern, partner in charge of the Brown Smith Wallace
Entrepreneurial Services Group, discusses some of the basics to
keep your business compliant, as featured in Small
Business Monthly.
As a small-business owner, it's important to be aware of
your sales tax obligations. Whether you're collecting,
calculating, reporting or paying sales tax, it can be easy to get
overwhelmed with sales tax compliance. Here are some tips on what
you should know in regard to sales and use tax:
- What is the difference between sales tax and use
tax? Rates vary depending on the tax type, as does the
burden of collection.
