Misc Tax Services
UNDERSTANDING SALES TAX
Learn the discounts and penalties of sales tax.
For those businesses required to collect sales tax, these funds must be remitted to the State on a monthly or quarterly basis.
By filing and paying this tax on time, the business owner receives a small discount.
Not filing and paying on time, however, can result in large penalties.
We can calculate amounts and remind you of deadlines so you will be on the “receiving” instead of “giving” end!
Commonly referred to as the GROSS RECEIPTS TAX
BPOL Tax This is commonly referred to as the GROSS RECEIPTS TAX and is based on the total dollar volume of business you do during the calendar year in your City, County, or Counties of operation.
County rules vary and, if you do business in several jurisdictions, completing all the necessary forms can be a major project.
We can prepare these filings-and we can assist you in setting up your accounting system to help make the job easier.
PERSONAL PROPERTY TAXES
Annual tax based on the personal property owned by your business
This is an annual tax based on the personal property owned by your business on January 1st of each year.
It is, therefore, very important to keep an accurate list of assets and depreciation schedules that are usually required as an attachment to the report. If you have property located in different jurisdictions, multiple filings are required.
At Brown, Mobley & Way, P.C., we use an excellent fixed asset management program to track your furniture, equipment, etc., by class, purchase date, cost, and location-including detailed depreciation schedules. These are provided to all business clients and can be updated whenever you notify us of a new acquisition during the year.