new Use tax report, 4-1-7-21, needs to display the TAXABLE AMOUNT of the INVOICE, not just the Invoice total.
this is required when an out of state vendor collects that state tax, but it is less than the buyer's destination tax rate.
example: Wisconsin tax rate 5.0 STATE RATE, and .5 COUNTY RATE.
Illinois is 6.25 which includes the 5.0 State rate and 1.25 COUNTY RATE.
If items purchased in WISCONSIN and taken to Illinois, the buyer owes .75 use tax on the taxable amount but it isn't on the report, requiring the user to look up needed information.
by: Kathy R. | over a year ago | Accounts Payable
Comments
Agreed. The use tax should have some way to determine which lines are taxable and not calculate it on the entire invoice