If you are to sell a product or offer a service in the state of Florida, the first thing you have to do is to register as a sales dealer. This shows your acknowledgement to represent the state as an agent to collect Florida sales and use tax on each and every taxable transaction. What a lot of people forget however is the fact that this is also a USE tax. Basically what this means is that you owe the government money for any and all tangible equipment, such as computers, that you bring into the state untaxed. This also includes items bought off the internet and shipped over to you. Below are the top ten filling errors that you should avoid when it comes to this issue.
1. None filling of zero return – even if you have no returns, you still have to file it.
2. Filling in late – if you are able to file on time or earlier, then you can get up to $30 allowance.
3. Forgetting to file on each collection period – this will cost you money
4. Wrong computation of numbers
5. Forgetting to compute for penalties
6. Not completing the front and back of the form
7. Do not include gross sales with collected taxes
8. Incorrect calculation or computation of collection allowance
9. Placing transactions on the wrong lines
10. Forgetting to compute penalties and interests as well
When it comes to Florida sales and use tax, these are some of the most common mistakes. This can be avoided by simply keeping your head clear and paying complete attention to what you are doing when completing this task. On the other hand, you can also hire an expert to do it for you as well so that you can attend to other matters regarding your business.
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