The UPS Store, like any business, is responsible for collecting sales tax from its customers and remitting it to the appropriate local, county, or state tax authorities.
This feature is available with select Docyt plans and not available with the Docyt Starter Plan.
The Role of UPS Store in Sales Tax Collection
To fulfil its financial obligations, UPS Store collects sales tax from its customers, which is then owed to the relevant local, county, or state tax authorities based on the applicable tax jurisdiction. In order to ensure that sales tax filings are done accurately and on time, store owners have several options to choose from:
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Manual Filing: Store owners have the option to manually calculate and submit their sales tax payments through the online portal. Most states offer online portals where you can remit sales tax payments electronically. Visit the website of the state's Department of Revenue or equivalent agency to access their online payment system.
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Tax Accountant: Alternatively, store owners have the option to enlist the expertise of a tax accountant who can professionally handle their sales tax obligations. This can provide peace of mind and ensure that all tax requirements are met accurately and efficiently.
Note: If you are in need of a tax partner, don't hesitate to contact your Docyt Account Manager for assistance. Docyt has formed valuable partnerships with a wide range of Tax Accountants who can provide expert guidance and support.
Streamlining Sales Tax Payments with Docyt
Docyt provides a platform that simplifies the payment of sales tax. To utilize this feature, follow these steps:
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Upload Sales Tax Documents: To start, you should upload all your sales tax documents into the Accounts Payable section of Docyt. This is where you can easily keep track of and manage your sales tax information.
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Ensure Proper Categorization: Ensure that your documents are correctly classified as "Sales Tax Payable" in order to accurately track and pay your sales tax. Your Docyt Account Manager will assist you in ensuring that the appropriate categorization is in place. This step is crucial for effective management of your sales tax and financial obligations.
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Initiate Payment: To make your sales tax payment through Docyt, simply issue a 'Docyt Check' using the platform. Be sure to attach the relevant sales tax invoice document to keep your records accurate and up to date.
Harnessing the power of Docyt can help streamline your sales tax payment and accounting procedures, allowing for more efficient financial management.