NYS Sales and Use Taxes

Discussion in 'Tax' started by Victor Roberts, Jan 27, 2004.

  1. For those NYS residents who may not have noticed, NYS has
    added something new to state tax returns.

    It has been law in New York for many years that NYS
    residents must pay the NYS Sales and Use Tax (if the
    merchant they purchased the item from did not collect the
    tax) on items purchased outside of New York State that are
    shipped into NY or items that the residents themselves
    purchase outside NY that they transport into NY for use
    there. (This last provision is intended mostly to collect
    Sales and Use Taxes on items purchased on Indian
    reservations in NYS and adjoining states.) Credit is allowed
    for sales and use tax paid in another state on the same
    item. This law has generally been ignored by most residents,
    as I believe it is in other states with similar laws. New
    York has now made the law impossible to ignore.

    Forms IT-200 and IT-201 for tax year 2003 include a line for
    payment of any Sales and Use Tax due. This line requires an
    entry. That is, it cannot be left blank like other lines on
    the Forms IT-200 and IT-201 if you have no entry. You must
    enter an amount, even if that amount is $0.

    The instructions assume that some people are going to do an
    exact calculation of the Sales and Use Tax due on every item
    they purchased in 2003, including the credit for the tax
    collected by the out of state merchant. Since most people
    will not have the records to do these calculations, NYS also
    provides fixed amounts, that vary by income, that can be
    paid in lieu of the "exact" calculation.

    --
    Vic Roberts

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    Victor Roberts, Jan 27, 2004
    #1
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