Get the free New York State and Local Sales and Use Tax Return for Part-Quarterly Filers - tax ny

This document serves as a tax return for businesses to report and pay sales and use tax in New York State for a specific tax period.

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How to fill out New York State and Local Sales and Use Tax Return for Part-Quarterly Filers

1. Gather necessary documentation, including total sales, exempt sales, and any taxable purchases.
2. Begin filling out the form NYS-1, ensuring to select the correct reporting period.
3. Report total gross sales in the appropriate section.
4. Deduct any exempt sales from your total gross sales to arrive at taxable sales.
5. Calculate the sales tax by applying the correct tax rate to the taxable sales amount.
6. Include any local taxes applicable to your area.
7. Report any use tax owed on taxable purchases made without paying sales tax.
8. Review the completed form for accuracy, ensuring all numbers are correct.
9. Submit the form by the due date, either online or by mail.

Who needs New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

1. Businesses or individuals who engage in selling goods or providing taxable services in New York State.
2. Taxpayers who are required to collect sales tax from customers.
3. Part-quarterly filers who report sales tax on income earned in specified quarters.

People Also Ask about

What form do I use to pay quarterly taxes?

Use Form 1040-ES to figure and pay your estimated tax. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.).

What is NY state sales and use tax?

Purchases above $110 are subject to a 4.5% NYC sales tax and a 4% NY State sales tax. The City Sales Tax rate is 4.5%, NY State Sales and use tax is 4% and the Metropolitan Commuter Transportation District surcharge of 0.375% for a total sales and use tax of 8.875 percent.

What are the 4 quarters for taxes?

Quarterly tax payments are due four times a year. As the IRS explains, a year has four payment periods with the following quarterly payment due dates: April 15, June 15, Sept. 15 and Jan. 15.

What are the sales tax quarter dates?

In most states, the quarterly sales tax due dates are generally as follows: Q1 (December 1–February 28) is due by March 20. Q2 (March 1–May 31) is due by June 20. Q3 (June 1–August 31) is due by September 20.

What are the quarters for New York sales and use tax?

NY Sales Tax Quarters: March 1 through May 31, June 1 through August 31, September 1 through November 30, and December 1 through February 28/29. 16th – New Jersey State Sales Tax Returns for Quarterly Filers for Oct. 1, 2024–Dec. 31, 2024 are due.

What is living quarters in New York?

Determining if you maintain a permanent place of abode in New York City depends on specific factors outlined by the New York State Department of Taxation and Finance. A permanent place of abode is generally defined as a residence you maintain, suitable for year-round use, regardless of ownership.

What is a quarterly filer?

Quarterly filing is form filing that takes place once every three months for a total of four times per year.

What are the sales tax quarters in NY?

These are the sales tax quarters in New York: First quarter: December through February. Second quarter: March through May. Third quarter: June through August. Fourth quarter: September through November.

For pdfFiller’s FAQs

What is New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

The New York State and Local Sales and Use Tax Return for Part-Quarterly Filers is a tax return form that businesses in New York use to report and pay sales and use taxes collected from customers on a quarterly basis, specifically for those businesses that are required to file their returns quarterly.

Who is required to file New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

Businesses that meet certain sales thresholds or have ongoing sales tax obligations in New York are required to file this return on a part-quarterly basis. This typically applies to smaller retailers and businesses that do not meet the criteria for monthly filing.

How to fill out New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

To fill out the return, businesses must provide information about total sales, taxable sales, tax-exempt sales, and any sales tax collected. The form will also include details related to local tax rates applicable to the business. Specific line items must be accurately completed based on sales data for the reporting period.

What is the purpose of New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

The purpose of this return is to ensure that businesses report the correct amount of sales tax collected and remit it to the state. It helps in maintaining compliance with tax laws and provides a systematic way for businesses to fulfill their tax obligations.

What information must be reported on New York State and Local Sales and Use Tax Return for Part-Quarterly Filers?

The information reported must include total gross sales, taxable sales, exempt sales, amount of sales tax collected, any deductions claimed, and the total tax due. Additionally, the return requires the reporting of local tax rates and any relevant business identification information.