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deduction for sales taxes paid to state from llc?
Posted on 5/15/12 at 12:16 pm
Posted on 5/15/12 at 12:16 pm
is there a way to deduct sales tax paid to EBR treasurer and La dept of rev on goods sold from small business?
Posted on 5/15/12 at 12:23 pm to gsvar2004
Sales tax is a pass through. If you pay sales tax on an item you dont charge it. If you're tax exempt (which you should be as a reseller) you are simply collecting the money and passing it through to the state.
So, no. It's not tax deductible. Additionally, the LLC doesn't pay taxes anyway. All tax burden is passed through to the owner(s).
So, no. It's not tax deductible. Additionally, the LLC doesn't pay taxes anyway. All tax burden is passed through to the owner(s).
Posted on 5/15/12 at 12:24 pm to VABuckeye
gotcha. thanks for the info
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