We operate on a very tight schedule to meet deadlines and keep a streamlined process when it comes to sales tax. Below is an outline of critical dates to be aware of.
We review your invoices to be sure everything has been recorded correctly and that you are sales tax compliant. We will be in touch with anything that we may need you to update to keep you tax-compliant as we find it. This helps us keep things moving to prepare for sales tax deadlines.
Once your sales for the sales tax period are compliant, we will send your sales tax liability report to you inside the client portal to review and approve.
There may be times when the report is later than the 15th due to outside circumstances. If that is the case we will be in communication through the portal.
The payment for your sales tax will come out shortly after we file. When you approve your sales tax report, please ensure that you also have the funds in your account for payment. You collect and hold sales tax until it is time to remit to the state, so this should not be an issue, and the funds should be available.
If the payment doesn’t go through, there may be fees and penalties from your state and us because a manual wire must be done after payment is rejected.
All dates above will happen each month for the previous month. For example, we will review August income in September and process August Sales Tax.
Q1 Jan-Mar: We process Q1 sales tax in April; all dated above apply to you in April
Q2 Apr-Jun: We process Q2 sales tax in July; all dates above apply to you in July.
Q3 Jul-Sep: We process Q3 sales tax in October; all dates above apply to you in October.
Q4 Oct-Dec: We process Q4 sales tax in January; all dates above apply to you in January.
Q1 Mar-May: We process NY Q2 sales tax in June; all dates above apply to you in June.
Q2 Jun-Aug: We process NY Q3 sales tax in September; all dates above apply to you in September.