Small Businesses and Sales Tax
What does “Chicken and Waffles” have to do with sales tax? Everything. Regardless of the type of business you have or how good your product may be, in this case chicken and waffles, you had better pay your sales and use taxes. While small business income tax might require an accountant or tax professional, sales and use is pretty straightforward. Whatever the state sales tax is that your charging, tally it up monthly or quarterly and send it to the state to keep the wolves at bay (trust me, they are wolves). This is not a bill that you let get out of control. Although you may be short on funds, or maybe even spent it, which of course you shouldn’t, but if you did spend it there’s still some action to take on your part. Even if your business has really, really good chicken and waffles.