Guidance Document Information
| Title |
2017 Accelerated Sales Tax Guidelines |
| Document ID |
Sales and Use |
| Summary |
House Bill 1500 (Acts of Assembly 2017, Chapter 836) maintains the accelerated sales tax threshold at taxable sales and/or purchases of $2.5 million or greater in the previous fiscal year for the accelerated sales tax payment due in June 2017. The threshold will increase to taxable sales and/or purchases of $4 million or greater in the previous fiscal year for the accelerated sales tax payment due in June 2018. Each Dealer meeting this threshold is required to make a payment in June equal to 90 percent of its Retail Sales and Use Tax liability for June of the previous year. |
| Effective Date |
5/2/2017 |
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Posted On 12/14/2017
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