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Filing Requirements

Filing Requirements

By becoming a registered vendor you must file sales and use tax return on your business activities. You must pay the tax due even if you have not collected the tax from purchasers. You also need to file even if you did not have any taxable sales or have no tax due in the filing period.

You need to file no later than 20 days after the period related to the filing has ended.

Filing Periods:

When you first register, you will need to file quarterly returns (unless you classify for annual filing, more bellow)

The quarterly returns cover a period of:

  • March 1 through May 31, need to file by June 20
  • June 1 through August 1, need to file by September 20
  • September 1 through November 30, need to file by December 20
  • December 1 through February 28 or 29 in a leap year, need to file by March 20

Monthly

If your combined amount of sales is $300K or more in any of the prior 4 quarters, you need to file monthly returns. The change applies the first day of the following quarter where you sold $300K. You must file monthly till your sales are less than $300K in 4 consecutives quarters. Review Publication 750.

Annual

You will be classified as an annual filer if the following conditions apply:

  • You do not expect to collect sales or use tax and
  • Your major business activity is a manufacture or wholesaler.

The Annual period covers from March 1 to February 28 or 29 (if a leap year) then return needs to be file by March 20.

The returns are usually mailed to the vendors and are posted online before they are due at the NYS Department of Taxation and Finance. You are responsible to file your return even if you have not received the return.

Next:Calculating Sales Tax and Record Keeping practices

 

Overview of the NY Sales Tax.

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