PAYING RESALE TAX

 

Policy

 

1. City resale tax payments are done quarterly. Below are the deadlines:
   1. Q1= April 20^th
   2. Q2= July 20^th
   3. Q3= Oct 20^th
   4. Q4= Jan 20^th
2. State and County tax payments are due monthly by the 15^th.

 

 

Task

 

When a resale tax payment is due, the Bookkeeper:

 

 

1. 1. Navigates to appropriate Quickbooks file

 

1. 2. Opens Sales Tax Calculator google doc

 

1. 3. Calculates “Non-taxable Sales” in google doc

 

• • • Navigates to “reports” from left hand toolbar
    • Under Profit and Loss, clicks “Run”
    • Sets appropriate “Report Period”
    • Clicks “Run Report”
    • Enters “Service Revenue” from P&L onto google doc
    • Opens “Taxes” from left hand toolbar
    • Clicks “+” sign next to City of Wheat Ridge and Colorado Dept of Revenue to expand the selection
    • Sets appropriate “show by”, “for and “start of year”

 

 

 

• • • Enters “Gross sales” from QBO Tax Center into google doc
    • Enters “Taxable Sales” from QBO Tax Center into google doc

 

1. 4. Navigates to Last Pass to begin filing tax payments online

 

1. 5. Files CITY sales tax payment

 

• • • Searches and Launches: “NSC Sales Tax- Wheat Ridge”
    • Confirms the Business ID is the appropriate company
    • In the City of Wheat Ridge Sales Tax Portal, clicks “File a Tax Return”

 

 

 

 

• • • Clicks “Continue” on the below screen

 

 

 

 

• • • Enters filing period date and clicks continue
    • Enters below data into the form from the Google Doc:
      1. Gross Sales & Service
      2. Non-taxable Service Sales
      3. Sales Shipped Out of City of State
    • Confirms Line 4 of the Form equals the “Taxable Sales” on the google doc (if it is within $20 it is ok)
    • Clicks “Save Form”
    • Selects “Make Payment Online with a Credit Card”
    • Accepts Terms and Conditions
    • Enters appropriate credit card and billing address
    • Prints receipts

 

1. 6. Files State (and county) tax payment
      • Searches and Launches in Last Pass: “NSC Sales Tax State of CO”
      • In the Colorado Revenue On-line website, clicks “Sales Tax” link under Accounts

 

 

 

 

• • • Under Recent Periods, selects “File Return”

 

 

 

 

• • • Clicks “File Retail Sales Tax Return”
    • Clicks on “Location ID”

 

 

 

 

• • • Enters below data into the form from the Google Doc:
      1. Gross Sales & Service
      2. Service Sales (2.b.1)
      3. Sales Out of Taxing Area under State, RTD/CD and County/MTS columns. See screenshot below.

 

 

 

 

 

• • • Confirms Line 4 of the Form equals the “Taxable Sales” on the google doc (if it is within $20 it is ok)
    • Confirms total tax owed and clicks Next
    • Checks box indicating we do not pay Special District Sales Tax
    • Checks box “I agree”
    • Prints copy of tax return
    • Makes payment (Refer TSK-XXX)