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Frequent Explorer *

Pay sales tax quarterly AND annually

We now need to start paying municipal sales tax. Currently, we pay our state sales tax quarterly but the municipal sales tax needs to be paid annually. How do I do this?

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Best answer 07-15-2019

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QuickBooks Team

Re: Pay sales tax quarterly AND annually

Thanks for getting back to us, @RiversideDgo

 

Yes, the city's total amount for the year will show up on January when you leave it unchecked. When you pay the sales tax, it does reset the calculation for future transaction. Also, it won't affect the municipality's balances.

 

For your future reference, I suggest running the Sales Tax Liability report. This allows you to get a summary of sales tax you’ve collected and owe to your tax agencies. Also, you can ensure the balances under your state, county and city taxes are accurate and up to date. 

 

If you need anything else, I'm just a click away. Wishing you and your business continued success! 

5 Comments
QuickBooks Team

Re: Pay sales tax quarterly AND annually

Good day @RiversideDgo,


Let me share my thoughts and help you set up your sales tax payment preference.

 

If you've already set your preference to quarterly, keep at it and proceed with paying your state sales tax as before. When it comes to paying your municipal sales tax, you need to make sure you select the correct date range. So instead of a single quarter, you can select 4 of them and that will be a year's worth of your municipal sales tax.

 

Whenever you need to adjust the sales tax amount you own or adjust the amounts for sales tax items, I'd recommend viewing this article: Process sales tax adjustment.

 

I'll be around in case you need further assistance. You only need to leave a comment below and I'll get you right back.

Frequent Explorer *

Re: Pay sales tax quarterly AND annually

So, when I go to Pay Sales Tax, I do NOT check the box for Durango Municipality? Just the county and state? See attachment.

QuickBooks Team

Re: Pay sales tax quarterly AND annually

I appreciate you coming back to us for additional support, @RiversideDgo.

 

Yes, you're correct. Select only the sales tax due for the specific quarter or year. However, you also have the option to pay them in advance. For future help with collecting, reviewing, paying, and resolving common sales tax issues, I'm attaching some references below.

I'm still here if you have follow-up questions. Just mention my name or comment back in this post. Wishing you and your business continued success!

Frequent Explorer *

Re: Pay sales tax quarterly AND annually

Sorry. I need clarification. When I choose to pay the county and state, leaving the city unchecked, for each quarter, the full amount for the year for the city will show up when I need to pay that in January? 

Doesn't the sales tax get "reset" when you pay the sales tax? It won't mess up the running total for the city/municipality?

QuickBooks Team

Re: Pay sales tax quarterly AND annually

Thanks for getting back to us, @RiversideDgo

 

Yes, the city's total amount for the year will show up on January when you leave it unchecked. When you pay the sales tax, it does reset the calculation for future transaction. Also, it won't affect the municipality's balances.

 

For your future reference, I suggest running the Sales Tax Liability report. This allows you to get a summary of sales tax you’ve collected and owe to your tax agencies. Also, you can ensure the balances under your state, county and city taxes are accurate and up to date. 

 

If you need anything else, I'm just a click away. Wishing you and your business continued success! 

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