Sales Tax Collection Procedure
The Sales Tax Collection Procedure outlines the sales tax rules, rates and exemptions so that your company can accurately and efficiently collect sales tax for goods and services offered.
The Sales Tax Collection Procedure ensures compliance with all state and local sales tax regulations and requirements. The tax collection procedure applies to individuals in sales and customer service who are directly responsible for the sale of products.(4 pages, 840 words)
Sales Tax Collection Responsibilities:
The Sales Representative is responsible for computing and adding sales tax to all sales quotes, or customer order forms.
The Accounting Manager is responsible for preparing all invoices showing all sales tax amounts collected.
Sales Tax Collection Procedure Activities
- Basis of Tax
- Applicable Sales Tax Rate
- Nontaxable Sales
- Sales Outside of State Jurisdiction
- Sales Billing
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