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Don't Forget: Use Tax Due Feb. 2! |
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Monday, 02 February 2009 17:40 |
| If you are responsible for handling your business' use tax return, February 2, 2009 isn't just the day after the Superbowl. It's your deadline for remitting use taxes. | | | | The State of Nevada's Department of Taxation sent out Consumer Use Tax Returns to Nevada businesses in December 2008. The return must be completed and submitted with any use tax due on or before February 2, 2009. If your return is postmarked after February 2, 2009, you will incur penalties and interest, which increase incrementally the longer you delay. | |
| | Use tax is the State's answer to mail order and internet shopping. When a business purchases by mail or online, it often does not pay sales tax to any State or municipality. The use tax requires that business to pay a tax to the State or municipality where the business is located. The use tax is generally equivalent to the local sales tax. The net effect is to make purchasing online or by mail no more advantageous than purchasing locally (at least from a sales tax perspective). | | | | For more information on the use tax, please see the Department of Taxation's somewhat intimidating January 2009 edition of "Nevada Tax Notes". | | | | This article is only intended as general information and a friendly reminder. As always, if you have any questions about how this applies to your specific situation, please contact Teale Advocate at 702-369-0039 or
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to schedule an appointment. | | | | Pursuant to IRS Circular 230, any tax information or written tax advice contained herein is not intended to be and can neither be used by any person for the purpose of avoiding tax penalties nor used to promote, recommend or market any tax-related matter addressed herein. |
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Last Updated ( Wednesday, 15 April 2009 22:28 )
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