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ST121.5 (7/00) (back)Instructions An operator of an Internet data center may use Form ST121.5 to purchase tangible personal property or services exempt from tax to the extent they are used in the
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How to fill out sales and use tax
How to fill out sales and use tax
01
Determine which sales and use tax form you need to fill out (usually found on the department of revenue website)
02
Gather all necessary business and sales records including receipts, invoices, and financial statements
03
Enter your business information such as name, address, and tax identification number on the form
04
Calculate the total amount of sales made during the reporting period
05
Determine the applicable tax rate based on your location and type of goods or services sold
06
Fill out the tax form with the calculated sales and use tax amount
07
Double check all information for accuracy before submitting the form
Who needs sales and use tax?
01
Businesses that sell tangible goods or provide taxable services typically need to collect and remit sales and use tax to the state or local government
02
Individuals who make purchases online or out-of-state may also be required to declare and pay use tax on those transactions
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What is sales and use tax?
Sales and use tax is a tax on the sale of goods and services that is levied by the government.
Who is required to file sales and use tax?
Businesses that sell taxable goods and services are required to file sales and use tax.
How to fill out sales and use tax?
Sales and use tax can be filled out online or by mailing in a paper form provided by the tax agency.
What is the purpose of sales and use tax?
The purpose of sales and use tax is to generate revenue for the government and to fund public services.
What information must be reported on sales and use tax?
Information such as total sales, taxable sales, exemptions, and credits must be reported on sales and use tax.
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