We want to get you ready for tax season! Taxes can be tough, but it’s easy to uncomplicate them by planning in advance.
On Nineteenth Amendment, designers are responsible for remitting sales tax to their state. What you pay for sales tax differs based on where your business is based. This is the legal address or operating nexus of your business, which for most designers is where they live or where their studio is located. As always, it’s best to consult your accountant to make sure you are using the right nexus and sales tax formula.
Quick tax insights:
- Just in case you were wondering, there is no federal sales tax – just state sales tax!
- Every state and county is different, click here to find out the state sales tax rates for 2017.
- We suggest building your sales tax into your garment cost when pricing your items. If you need help on pricing, just consult your Designer Welcome Guide!
This way, once April comes – you’ll be ready!
Taxes all set? Want to get started building your brand?