Sales Tax To Be Paid By Purchaser

[cssutto]

NC has just changed the sales tax law in that purchasers of mill machinery and similar products are to pay the 1% not to exceed $80.00 to the state. This tax is to no longer be collected by the seller.

PT has a good system for collecting sales taxes if you are the vendor, but I can not see a good way for me to keep track of the sales tax that I will owe as a purchaser.

When some of the products I purchase are for use in our shop in manufacturing a product and are subject to the 1% tax, and some of the purchases we make are subject to the full 7% sales tax and then there are also items which are purchased for resale and are not taxable, how do I keep that straight with PT 2003?

I know that for each purchase, I can enter the purchase price in the proper account (steel inventory, small tools, etc.) and on an item line below, enter the sales tax and credit it to sales tax payable. but that means that I have to calculate it each and every time.

I have not given this much thought, I admit, and I may be overlooking something simple, but what I want is a way to handle this that is as easy as when I as a vendor collected the tax using the PT tax authorities.

CSSJR

[cssutto]

I suppose my post might have made more sense if I had referred to it as a user tax.

There must be some state that has a user tax provision for which PT has a global.

CSSJR

[cigargerald]

Just create another G/L liablility acocunt titled "Use Tax Payable" and when you receive invoices from your vendor make entries there.

I.e. equipment received 1,000
equipment rec'd - tax 80
use tax payable -80
the off-set to a/p will be the 1,000 due the vendor

G-