Did you know that all states that charge sales tax also charge use tax? Consumer use tax is a sales tax that is collected and remitted by the buyer rather than the seller and it is a business’ responsibility to self-assess when, and if, use tax is accrued and to pay the state and/or local tax authority on a tax return. Unlike sales tax, very few businesses understand use tax regulations, let alone comply with them.
A company buying goods outside the state or online is required to report and remit consumer use tax for the storage, use, or other consumption of tangible personal...
