If your corporation sells tangible goods to the general public and your corporation is incorporated in a state that imposes a sales tax on those goods, your business will likely be responsible for collecting and paying that sales tax. The amount of the sales tax is computed based on the sale price of the tangible good. The percentage of the sales tax varies from city to city; county to county; and from state to state. Some states impose no sales tax whatsoever.
With regard to sales of tangible goods to the general public by your corporation, you will be responsible for the following:
- Making certain the sales tax is properly charged and collected from the customer;
- Making certain the tax amount is reported in a timely manner to the correct state or locality;
- Ensuring the tax is paid in a timely manner to the correct state or locality; and
- Obtaining sales permits as necessary.
Internet Sales Transactions
