Thursday, January 19, 2012

PTA School Store Sales Tax?

Our local unit has a student store and in the past had not collected sales tax on the items we sold, but we have started doing so since we learned at PTA & the Law that it was required.  What do we need to do to come into compliance with the sales tax rules, and Is there a deadline for doing so?

If your PTA made taxable sales during calendar year 2011, you must file a return called the “Retailing and Other Activities Return” with the Washington State Department of Revenue by January 31, 2012.  Unless the  amount of sales tax you owe is more than $1050 (representing sales of between  $10,600 and $15,000, depending on the applicable rate where the sales took  place) you should not owe any penalty or interest for the 2011 tax  year.   You can find information about how to deal with prior years on the recently updated here.
Fundraising & Sales Tax FAQ now available on the WSPTA  website.  The website also includes instructions for completing the 2011  return,