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Form Tb-St-770 - Recordkeeping Requirements For Sales Tax Vendors - Nys Dept.of Taxation

Tax Bulletin

Sales and Use Tax

TB-ST-770

June 2, 2011

Recordkeeping Requirements for Sales Tax Vendors

Introduction

If you are registered for purposes of New York State's sales tax you are a trustee of New

York State and you have a responsibility to collect the proper amount of sales tax from

your customers and to remit the tax you have collected with your timely filed sales tax

return.

As a registered sales tax vendor, you are required to keep accurate records of all sales

and purchases that you make. Keeping detailed records of your business operation will

help you prepare accurate and complete sales tax returns. Detailed records will also

serve as documentation of the accuracy of your returns if you are audited.

While this bulletin does not provide an exhaustive list of the records you must keep, it

does give an overview of those records and references to more resources on

recordkeeping requirements.

Recordkeeping rules

When you file a sales tax return, it must show:

• total sales,

• taxable sales,

• purchases by the business subject to tax on which no tax was paid to the seller,

• credits (if any),

• sales and use taxes due for each locality, and

• any other special taxes due.

All of your records must be dated and kept in good order. Your records must provide

sufficient detail to independently determine the taxable status of each sale and the

amount of tax due and collected. You must be able, through your records, to connect an

exempt sale to a particular purchaser to the exemption certificate you have on file for that

sale or purchaser. If you issue an exemption certificate when you make a purchase, you

must maintain a record of the purchase and be able to prove the exempt use.

What records to keep

Sales records

You must keep records of every sale, the amount of the sale, and the sales tax on the

sale. Your must retain a true copy of each:

• sales slip, invoice, receipt, contract, statement, or other memorandum of sale;

• guest check, hotel guest check, receipt from admissions such as ticket stubs,

receipt from dues; and

• cash register tape and any other original sales document.

If no written document is given to the purchaser, you must keep a detailed daily record of

all cash and credit sales in a daybook or similar journal. Ask your accountant for help if

you aren’t sure how to do this.

W A Harriman Campus, Albany NY 12227

Form Tb-St-770 - Recordkeeping Requirements For Sales Tax Vendors - Nys Dept.of Taxation