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Inventory to Sales Ratio

The inventory to sales ratio looks at your investment in inventory in relation to your monthly sales amount. The inventory to sales ratio helps you identify recent increases in inventory. In contrast, the average inventory investment period may only report inventory information from the previous year, if that was the only information available to calculate the period.

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Occasional Sale Exemption

To avoid requiring every person who happened to sell an item of tangible personal property during the year to collect or pay sales tax, most states offer an exemption from sales tax for occasional, casual, or isolated sales. This is the reason you can have a garage sale every spring and not collect sales tax. In most cases, eligibility for the exemption is based on the seller not having more than a specified number or dollar amount of sales during the year. Among the states having a sales tax, Alaska, Colorado, Delaware, Oklahoma and Wyoming are the only states that do not provide specific exemptions for occasional sales (with the exception of occasional sales by charitable organizations).

Sales and Use Taxes in Alaska

Alaska does not impose statewide sales and use, gross receipts, or occupational license taxes. However, various boroughs and municipalities do levy sales and use taxes. The combined city and borough sales tax rate can range from 0 percent to 7 percent.

Form 4797, Sales of Business Property

If you sell or dispose of property used in a trade or business, it must be reported on IRS Form 4797, Sales of Business Property. This form is divided into several sections, which are used for different types of property.

Sales and Use Taxes in Michigan

In Michigan every retailer must pay a tax for the privilege of carrying on a retail business based on eligible gross sales proceeds cialis online. The eligible gross sale proceeds are those from:

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Sales and Use Taxes in Hawaii

Hawaii assesses a sales tax on every type of business transaction, including retail sales of tangible personal property and the gross receipts generated from services provided. So, if your business buys, sells, or uses products or services in Hawaii, a sales or use tax liability will probably be incurred.

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Sales and Use Taxes in Vermont

In Vermont a tax is imposed on receipts from:

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Sales and Revenue Transactions

You record daily sales in a sales journal. To simplify your bookkeeping, we recommend a combined sales and cash receipts journal. With a journal that combines sales and cash receipts, you record all sales (cash and credit) and all cash receipts, including collection of accounts receivable, in one journal.

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Sales and Use Taxes in Missouri

In Missouri sales tax is levied on all sellers for the privilege of engaging in the business of selling tangible personal property or rendering taxable services at retail. The sales tax is imposed on the following sales or charges (including lease or rental considerations):

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Sales Promotion

Sales promotion consists of any material or event that involves direct product purchase incentives. Examples include "buy one, get one free promotions," coupons, etc.