I presume everyone doing business in California got the letter from the Franchise Tax Board about sales/use taxes. If your vendors didn't charge you sales tax (or charged at a rate where they do business), and you didn't charge and report sales tax, then you may have a retro-bill in your future.
As an aside (probably should be in Just Conversation), anybody remember that certain national political figures were hot to amend the Constitution so that Arnold could be President?
I can tell you it is true and it can take one giant bite. They went back 3 years in the audit and then went to our suppliers to verify.
Karl, when did this happen for you? Also, any particular vendors that hadn't charged tax, or charged on ophthalmic but not sun?Originally Posted by kgcopley
Last edited by finefocus; 03-23-2010 at 12:18 PM. Reason: additional question
we probably need to take this to the proffessional forum
The ever increasing tax burden was one of the reasons that we sold our interests in California five years ago. Taxes and fees - fees and taxes. As I am an east coast boy I could never figure out why Californians could let such a beautiful state go down a rat hole. I guess it's all those years of reefer finally catching up. Youse guys (and the rest of us) just gotta stop spending money like drunken sailors and tighten up the border and learn to mow your own lawns.
California's chickens are coming home to roost. The rest of us soon to follow.
I want to revive this thread to ask if any more practices have been contacted about this, or have had to produce purchase/sales tax figures.
We are having a devil of a time getting this info from vendors.
Ilanh, you posted on this subject recently. How's it going? Anyone else have stories to share?
You wholesalers, have you been contacted concerning state audits? Are you collecting sales tax according to the local rates of your customers?
God help us if we ever get a VAT. THe CA franchise tax board is looking for every nickle it can turn up.
Almst 2/3 of our legislature (Both houses) believe that California does not have a spending problem, it has a revenue problem. Pretty soon our state income tax form will have 3 lines. How much did you earn, how much did the Feds take and remit the balance to Sacramento
Ed
Ed
MSEd, BBA, AAS Ophthalmic Dispensing
ABOC NCLC FNAO FOAA
No arguement there, but we have found that California has been shorted a lot of money by wholesalers (and therefore by us) through misunderstanding of the law; that is a revenue problem. How many other mechanisms for collecting revenue are also underperforming or being circumvented?
No arguement there, but we have found that California has been shorted a lot of money by wholesalers (and therefore by us) through misunderstanding of the law; that is a revenue problem. How many other mechanisms for collecting revenue are also underperforming or being circumvented?
Just look across the northern border ...........................
Sales tax on just about everytghing but food in a store.........................
Canadian Federals salestax.............5%
Princial Quebec sales tax............... 7.5%
Example :........................................ $10.00 of postage stamps
Federal Tax ......................................$ 0.50
sub total.......................................... $10.50
Provincial Sales tax 7.5%................... $ 0.79
Total with tax on tax......................... $ 11.29
and you guy's will also get it sooner or later, even on stamps
What makes you think that California is owed anything?:finger:
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