The state sales tax in Utah is 4.85% and is applied to the purchase of tangible personal property as well as some services. There are also regional sales taxes, which change based on the county or city where the sale is made. It’s crucial to understand how to submit your sales tax returns to the state of Utah if you own a business there.
The first step is to apply for a Utah sales tax license. You must apply for a sales tax license with the Utah State Tax Commission before you may begin to collect and submit sales tax in Utah. The Utah Taxpayer Access Point (TAP) offers both online and paper registration options. In addition to your tax ID number, business address, and the kinds of goods and services you sell, you must supply information about your company.
Collect Sales Tax on Your Sales in Step 2
You must collect sales tax on all taxable sales you make in Utah once you have your sales tax license. Ensure that you maintain accurate records of all sales and the sales tax that was collected.
Step 3: Submitting and paying sales tax returns The final day of the month following the conclusion of the reporting period is when Utah sales tax reports are due. You can mail in your return using form TC-62S or file it online through TAP. The total amount of sales made during the reporting period, the sales tax collected, and any allowable deductions or credits must all be reported.
After you have submitted your return, you can either use form TC-69 to mail in your sales tax payment or pay it online through TAP. You might be qualified for a minor reduction in the amount of sales tax you owe if you file and pay your tax returns on time. What exactly is a Utah Form TC-40? Residents of Utah file their state income taxes using Utah form TC-40, which is the individual income tax return form. This form is only used for individual income taxes and has nothing to do with reporting sales taxes. How Do I Receive My 1099-G in Utah? The amount of state income tax refunds, unemployment benefits, and other government payments you received during the tax year are reported on Form 1099-G. If you live in Utah and require a copy of your 1099-G, contact the Utah State Tax Commission at (801) 297-2200 or log into your TAP account to make your request. How Does Utah’s Sales Tax Operate? The sale of tangible personal property and some services is subject to the Utah sales tax. Local sales taxes might differ based on the county or city where the sale is made, and the state’s current sales tax rate is 4.85%. In Utah, companies are required to apply for a sales tax license, collect sales tax from customers on taxable purchases, and submit sales tax returns to the state. In Utah, do I have to collect sales tax? You must remit sales tax to the government of Utah if your company sells tangible personal property or taxable services. It’s crucial to comprehend the laws and procedures governing Utah’s sales tax because there are some exemptions and reductions available for specific sorts of sales.