9 June, 2024 | Sales Tax Tax Audits
Restaurant Sales Tax New York State — Rules and Failed Compliance Complex tax rules govern when, how, and for which products New York restaurants and bars can collect sales tax. It is crucial that restaurant owners understand these intricate requirements and their own obligations before going into business. Mistakes can lead to heavy penalties. Learn more about sales tax on food in New York... CONTINUE READING
8 February, 2024 | Sales Tax Uncategorized
Business Owner's Guide to New York Sales Tax Sales tax in New York is a consumption-based tax imposed on the retail sale of tangible personal property and certain services. The state requires individuals and businesses to pay sales tax when purchasing taxable goods and services. For businesses operating in New York, understanding the fundamental aspects of sales tax is paramount to ensuring compliance with state regulations. Here’s everything you need to know about sales tax, i... CONTINUE READING
Summary The punishment for tax fraud depends on the type of fraud committed and the specific law broken. Criminal tax fraud can lead to imprisonment of up to five years and fines of up to $250,000 for individuals and $500,000 for corporations. Civil tax fraud leads to civil penalties of...
