A Guide To Sales Tax In New York State - New York State Department Of Taxation And Finance Page 26
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44Publication 750 (8/04)
Tax remitted based on accrual method of accounting
A business may keep its books using the cash or accrual methods of
accounting. No matter which record keeping method you choose to
record your business’s transactions, you must report any sales made,
and remit the applicable sales tax based on the accrual method of
accounting. That is, you are required to report taxable sales and remit
the tax due on the return covering the period in which the sales are
made, regardless of whether your customer has paid you.
Note: If you are a materialman (a supplier of building materials), see
TSB-M-99(2)S for information on the rules relating to when you may
report and remit sales tax due using the cash method of accounting.
Taxable business purchases
You should be aware
If you are conducting business in New York State, you should be
that you are required to
aware that you are required to pay sales and use taxes in the following
pay sales and use taxes
situations, whether or not you are required to be registered as a vendor
in certain situations,
for sales tax purposes:
whether or not you are
required to be registered
•
you purchase taxable property (such as inventory) or
as a vendor for sales tax
services without payment of taxes because you intend
purposes.
to resell them, but you later use the property or services
rather than reselling them;
•
you purchase taxable property without payment of taxes
because you purchased them from a vendor who is
located outside of New York State, and you use that
property in this state;
•
you purchase taxable gas and electricity without
payment of taxes because you purchased these
commodities from a vendor who is located outside
New York State, and your business uses that gas and
electricity in this state;
•
you send property out of New York State to have a
taxable service performed on that property, do not pay
tax, and then use that property in this state;
•
you purchase taxable property, services, hotel
occupancy or pay amusement charges in
New York State without payment of taxes;
•
you purchase taxable property in one county or city in
New York State and then use the property in a county
-26-
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