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Texas Sales Tax Return (Form 01-114) | Step-by-Step Example

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Jason D. Knott

Texas sales taxes are assessed on most products and services. Businesses must collect sales taxes on taxable sales, file sales and use tax returns, and remit the taxes to the Texas Comptroller.

Businesses are encouraged to file returns and pay taxes electronically using their online system. In some cases, the business can file a paper return. The Texas State sales tax rate is 6.25% on taxable sales, and businesses must collect additional local sales taxes depending upon where they operate and sell products and services to customers.

Form 01114 (Long Form) Sales and Ues Tax Return
Form 01117 (Short Form) Sales and Use Tax Return

Timestamps:
0:00 Introduction
0:44 Background on Texas Sales Tax
4:01 Fact Pattern
8:32 Long Form Version
13:19 Short Form Version

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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Selfhelp services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorneyclient or confidential relationship. This video does not include information about every topic or issue related to these informational materials.

#Texas #SalesTax #BusinessTaxes

posted by bitmi66