Friday, June 10, 2011
Comptroller Issues Alcohol Tax Guidance
The State Comptroller’s Office has issued guidance for businesses in calculating and remitting the newly enacted 9% sales tax on alcoholic beverages. Businesses now have less than a month to reprogram their cash registers and educate their staff on the new tax, which is effective July 1. For example, various items in a bundled sale will require segregation (and if not segregated, the 9% tax would apply to the whole transaction), and certain charges including both alcoholic items and non-alcoholic items would require allocation (like gratuities, labor of caterers, etc.) See the new standards. Contact Ron Wineholt for further information at .(JavaScript must be enabled to view this email address).
