Bergan Paulsen Partner, Tom Kunz, recently shared his expertise with the Corridor Business Journal in an article entitled Contractors Deal with Confusing Sales Tax Laws. The article discusses challenges that contractors face regarding sales tax. Some contractors erroneously pay the sales tax from their equipment purchase and then submit the full amount of sales tax paid by the end consumer. One example highlighted in the article resulted in a sales tax refund of $75,000 due to overpayment of sales tax. Find out more by reading the full article.
In addition, we've outlined an example below where sales tax has been calculated and paid correctly.
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