Wednesday, June 13, 2012

NJ sales tax on contracting services

A water damage remediation company was deemed required to charge and remit sales tax on its services because what they provided did not constitute exempt capital improvements.

Many contracting type services are subject to NJ sales tax and those that are exempt often require the contractor to obtain a signed statement from the customer which describes the nature of the work that was completed. Forgetting to charge/quote a customer the 7% sales tax in a situation where you are required to remit sales tax can really cut into your profit margin!

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