Anyone a Franchisee?

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Everskyward said:
Merchants are required to collect sales tax and send it in regardless of whether or not they are making a profit. In the old days (the only time I was involved in collecting sales tax), you kept track of what the customer paid in sales tax, and wrote a check to the state periodically. I'm sure it's automated now. The money might have been in the company's checking account for a few days, but it never really belonged to the company.
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For my business in Texas, it's not automated. Maybe for the mega retailers?

For me, the salvage yard software has a report that can specify sales information between DATE_1 and DATE_2. At the beginning of each month, I run this for the month prior, and then file a "sales tax return" on the Texas Comptroller's website for this purpose. I report total sales, and "sales taxable" sales (aka sales to customers who don't have a valid resale number on file with me). The web system calculates the tax owed (which lines up to a few pennies of what my report says). Then I tell it what day to pull the money from my operating account, along with banking info.

So it's a manual process to pay the bill, but not difficult.

And the best business wisdom I was provided long ago was to never cheat the tax man. There are other "rubber bands" a business can stretch if that's needed, but two items I always make sure to have funds for is payroll and taxes.
 
Jay Honeck said:
** Hotel tax is 13% in Port Aransas. It was 12% in Iowa City. It is a whopping 17% in San Antonio.
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Can you enlighten us as to who the entity is that collects this? And is this money earmarked by that entity for anything in particular? Maybe promoting more tourism in general?
 
AggieMike88 said:
For my business in Texas, it's not automated. Maybe for the mega retailers?

For me, the salvage yard software has a report that can specify sales information between DATE_1 and DATE_2. At the beginning of each month, I run this for the month prior, and then file a "sales tax return" on the Texas Comptroller's website for this purpose. I report total sales, and "sales taxable" sales (aka sales to customers who don't have a valid resale number on file with me). The web system calculates the tax owed (which lines up to a few pennies of what my report says). Then I tell it what day to pull the money from my operating account, along with banking info.

So it's a manual process to pay the bill, but not difficult.

And the best business wisdom I was provided long ago was to never cheat the tax man. There are other "rubber bands" a business can stretch if that's needed, but two items I always make sure to have funds for is payroll and taxes.
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That's more automated than what I had to do. I don't recall computers being involved, just paper and an adding machine. This was in the mid 1980s.
 
Everskyward said:
That's more automated than what I had to do. I don't recall computers being involved, just paper and an adding machine. This was in the mid 1980s.
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Well, now that I know the context of time.... that is the way Dad had to do it back then... Even had a pre-printed "coupon book" with our business info (ID numbers) that he filled out the details I do on a web page.
 
AggieMike88 said:
Can you enlighten us as to who the entity is that collects this? And is this money earmarked by that entity for anything in particular? Maybe promoting more tourism in general?
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The Texas state portion is 6%; did not research how exactly it is used. The City of Port A portion is 7%. See post 135 for how Port A uses it, although the first 3% is vague. Note that 2% of the state tax is used by Port A for beach maintenance. The local occupancy tax in Texas can ony be use for specific purposes that appear to be related to tourism. Google "Texas local motel tax uses". Can't speak for Iowa.
 
Cluemeister said:
It is an absurd argument that the roads, police, and fire protection are special favors to business owners who have an obligation to pay it back.
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It's absurd to argue that businesses do not benefit from the structure which resulted from taxes and the cooperation of others.
 
SkyDog58 said:
You have no state personal income tax is probably what you meant to say. You do have sales tax and other taxes.
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Yes, that is correct. Sales and property taxes here for the person. No idea about corp taxes
 
AggieMike88 said:
What would a resort be be all about?
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Resort fees are something hotels here LOVE to charge.. I worked for one of those companies, that has 3 letters for their company name.... 25/night bought you a newspaper, wifi, use of the hotel gym and thats about it. Now they're also charging $18/day to park in ADDITION to that resort fee.
 
register@teamandras.com said:
Really weird. Did I say something insulting? I have no idea why you're being rude to me, rather than just clarifying the meaning of what you wrote.
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Things he doesn't understand are answered with ad-hominem attacks. Nothing new.
 
sferguson524 said:
Resort fees are something hotels here LOVE to charge.. I worked for one of those companies, that has 3 letters for their company name.... 25/night bought you a newspaper, wifi, use of the hotel gym and thats about it. Now they're also charging $18/day to park in ADDITION to that resort fee.
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I believe the 'resort fee' is a mechanism for the hotel to reduce the bite from the occupancy tax.
 
Van Johnston said:
The Texas state portion is 6%; did not research how exactly it is used. The City of Port A portion is 7%. See post 135 for how Port A uses it, although the first 3% is vague. Note that 2% of the state tax is used by Port A for beach maintenance. The local occupancy tax in Texas can ony be use for specific purposes that appear to be related to tourism. Google "Texas local motel tax uses". Can't speak for Iowa.
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From the expenses listed in the post earlier, the city of Port A uses the motel tax as a slush fund to finance anything they can remotely connect to the tourist trade.
 
weilke said:
Things he doesn't understand are answered with ad-hominem attacks. Nothing new.
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No. When people are deliberately obtuse they get an appropriate response.
 
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