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re: Anyone own vending machines?
Posted on 10/14/23 at 2:13 am to dgnx6
Posted on 10/14/23 at 2:13 am to dgnx6
5 month bump. Googled "Vending Machine tigerdroppings" and this thread came up. I was interested into getting into this type of business at a slow pace.
Not sure if you live in Arkansas Hawgeye but what direction would be best....
Not sure if you live in Arkansas Hawgeye but what direction would be best....
quote:
A taxpayer is given 3 options to manage their vending operations in Arkansas. All vending machines must display an annually issued vending device decal, no matter which option is chosen.
Option 1 involves the payment of sales tax directly to the supplier of all merchandise that will be sold through the taxpayer’s vending machines. Food sold through a vending machine can qualify for taxation at the Reduced Food Tax rate (see Rule 2007-3). No Sales/Use Tax permit is required if Option 1 is chosen.
After the opening of a Vending account, fiscal year decals are issued and placed on vending machines by the taxpayer. Prior to the beginning of each new fiscal year, a decal order form is mailed out to all Vending accounts. There are no fees for the annual Option 1 decals.
Option 2 involves reporting/paying the 7% Wholesale Vending Tax (see Rule 1995-2) each month on the merchandise to be sold through the taxpayer’s vending machines. Merchandise is purchased tax free under the sale for resale exemption. A Sales/Use Tax Permit is required. The taxpayer is required to file a monthly ET-1 Excise Tax Report and pay the appropriate tax.
After the opening of a Vending account, fiscal year decals are requested, issued, and placed on vending machines by the taxpayer. Prior to the beginning of each fiscal year, a decal order form is mailed out to all Vending accounts. There are no fees for the annual Option 2 decals.
Option 3 involves exempting vending merchandise purchases from tax under the sale for resale exemption. A Sales/Use Tax Permit is required. The taxpayer is required to file a monthly ET-1 Excise Tax Report.
After opening of a Vending account, fiscal year decals are purchased, issued, and placed on vending machines by the taxpayer. The vending machine operator purchases Option 3 decals based on various factors – manual verses electric vending equipment, value of the vended goods, and bulk verses individually vended goods. Prior to the beginning of each new fiscal year, a decal order form is mailed out to all Vending accounts. Decal costs are shown below.
Posted on 10/15/23 at 6:58 am to pioneerbasketball
Hawgeye is the man. Hopefully he responds
Posted on 10/16/23 at 9:19 am to pioneerbasketball
quote:
pioneerbasketball
Not in Arkansas, but it looks like Option 3 in Arkansas is what I do here.
I file monthly with the state the total sales, no sales tax owed. Purchase my Sales/Use tax permit yearly.
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