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Tquarker
01-27-2020
05:25 PM
When I sell a item that has 6% sales tax where does that money go? Does square hold it?
When you have 6% sales tax on a item does square hold that somewhere ? Or is it calculated in the gross net sales? Where does it go?
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1 REPLY 1
It gets deposited to your account as part of the day's totals. This means you have to pay it to the state, Square has nothing to do with that.
Ex. $100 item plus $6 sales tax would mean you will have $106 sent to you by Square (less because of the processing fees). You have to file your sales tax with the state and pay them when due.