I understand how to deal with Use Tax that we must remit (b/c the vendor hasn’t included it).
My question has to do with the Sales Tax that we do pay for store supplies, etc.
If the vendor has included Sales/Use Tax in their bill do I simply record this as part of the cost of the product or should there be a separate line (account name) to keep track of the paid Sales/Use tax?
In my experience, the sales tax that you pay to your vendor suppliers is just included as part of the cost of the products or items purchased. However, the laws tend to vary by state so I recommend that you contact your state or a tax professional to get clarification on what the specific requirements are for Ct.
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