Sales tax is a tax on the retail purchase. The sales tax so collected is paid to the governing authority for the sales of certain goods and commodities or services. the seller is allowed to collect the funds for the tax from the consumers at the time of purchase and deposit it with the government. The tax amount so collected is used to pay for state and local budget items like schools, roads, and fire departments. Sales tax is a consumption tax and is based on the sales of products from retailers to individual consumers.
There are varied types of sales tax or the similar tax and they are to be calculated on the basis of laws as formulated by the government. The computation of which requires the help of a professional sales tax consultant. The person is equipped with knowledge and expertise to calculate the tax and help the clients to pay accurate tax for the growth of business of the clients. The several sales tax and similar taxes are like. Retail sales tax, it is the sales tax that is levied on the sale of a good to its final consumer and is charged every time the item is sold retail. Sales to businesses that later resale the products are not charged sales tax, as they are not the end users. These resellers are issued a certificate of resale by the taxing authority and they need to provide a certificate to the seller at the point of purchase with a statement specifying that the product will be resold. The manufacturer or the producer levies manufacturer’s sales tax on the sales of tangible personal property. Wholesale sales tax- the tax levied on the sales of wholesale tangible personal property that is in the form packaged and labeled ready for shipment or delivery to the final users and consumers. Retail sales tax that is levied on the sales of tangible personal property to the end users or industrial users. When a tax on goods and services is paid to the governing authority directly by the consumer it is termed as use tax. There are laws under which exemption of certain goods or services from the sales tax or use tax. At point there are value-added tax (VAT) that is collected on goods or services and this is similar to sales tax.
Sales tax consultant thus helps in the calculation of these taxes so that there are no mistakes and wherever permitted by law the sales tax is saved. In case if there are mistakes in the calculation of the sales tax there are punishments or charges that the government can levy on the business or even close the business and thus with the help of a professional tax consultant sale tax support can be taken. This also saves from the harassment and time consuming process of calculating the tax and filing it,