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Rebates - tax... how does it work??

DrPizza

DrPizza

Administrator Elite Member Goat Whisperer
Let's say I am a company..

I charge $100 for an item and collect the appropriate sales tax on that item. (8.25 percent here = $8.25)
But, then I refund $50 to the customer, in the form of a rebate.

Am I responsible for forwarding on $8.25 to the state at the end of the quarter, or $4.13??

 
8.25.

thus the reason rebates will never be outlawed.

also, the company still makes some interest on the initial payment. so they are giving all 50$ back, but after they probably made 30$ of interest.

MIKE
 
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