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FAQs about Tax Refund Sale: 10% off any order placed at BTECH direct with … Coupon?

Can I take a sales tax credit if I refunded the full price?

If you refund the full price, then you’re entitled to take a credit with the state for the full sales tax you returned to the customer. To do so if you’ve already filed your sales tax return, you’ll have to amend the return – more complicated in some states than in others. In Texas, for example, you take a credit on a future return using ...

What does a sales tax refund mean?

Issuing a refund to your customer also means refunding the sales tax you collected from them. As an online retailer, you could be forgiven for thinking that all you need to do next to handle a sales tax refund is to claim a credit on your next sales tax return. Sadly, as with most things sales tax related, reality is a little more complicated. ...

Can I claim sales tax credit back a previous taxable period?

(And one that sounds like common sense to them.) When you refund sales tax to a customer for a previous taxable period, states want you to file an amended return for that previous taxable period. You can then claim the credit back (i.e. the amount of sales tax you refunded) on that amended return. ...

Does restocking charge a sales tax refund?

“If [the merchant] retains a percentage of the original sales price, the sales tax collected on that retained amount must be remitted to the State and is not subject to a refund or credit.” At issue too in the New York case was yet another wrinkle in returns, refunds and sales tax: a restocking charge. ...

Do you give a refund if you sell a product?

You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Simple. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? ...

Can I deduct sales tax if I return a product?

Almost all the states (and the District of Columbia) that impose a sales tax generally allow retailers to deduct or exclude sales tax refunds for returned goods from taxable sales. ...