State Sales Tax
Be it monthly or quarterly sales tax returns, Next Level tax ensures timely and precise filing. We take the responsibility to collect, file and pay the sales tax returns allowing you to concentrate on your business. The State of Texas levies a Sales Tax on most purchases of services or tangible personal property in the amount of 6.25% on the final sale price. Also, cities, counties, and special purpose districts (such as hospitals, crime control districts, or transit services) may levy an additional rate of up to 2%, for a combined statutory maximum rate of 8.25%. The tax is paid by the purchaser of the product or service (not the seller) and collected at the time of sale. The seller is required to collect and remit the tax on a monthly, quarterly, or annual basis, depending on annual gross sales, and is generally authorized to retain a small percentage of the amount due in compensation for the time required to do so. Retailers need to develop and implement an effective process for recording taxable sales and reporting them to the Texas Comptroller. Though the portion of businesses selected for audit each year is low (between 2% and 5%), substantial non-compliance could result in an assessment of tax, penalties, and fees sufficient to drive you out of business.
Next Level Tax helps Texas entrepreneurs stay in compliance with the tax code. We can show you how and what to report, and we can file your reports for you. Additionally, we can represent you before the Texas Comptroller, if you are selected for an audit to ensure that you won't have to pay taxes that you don't owe.