New York State Sales Tax Information

The New York State Department of Taxation and Finance just updated some of its very helpful information regarding business owners and their sales tax obligations.

For a general overview, consult "Your responsibilities under the New York State and local sales and use tax laws."

Other updated guidance:

"How sales and use taxes apply to interior decorating and design services"

"Record Keeping Requirements for Sales Tax Vendors"

Knowledge of this material and your obligations is crucial, because a business owner can be held personally liable (i.e. no hiding behind corp or LLC) for sales tax obligations and there are numerous ugly and even criminal penalties for failing to comply with the responsibilities.

About Imke Ratschko

Imke Ratschko is a New York Attorney helping small businesses, business owners and entrepreneurs with all things "Small Business Law," such as litigation, contracts, business owner disputes, shareholder and operating agreements, sale or purchase of a business, investors, and starting a business. You can reach her at 212.253.1027.

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