Browsing Posts in Taxes

In NJ, all businesses are required to file quarterly even if there were no sales and no tax is due. Filing is on or before the 20th day of the month following the close of the quarter. This will be 4/20, 7/20, 10/20, 1/20.

To file a return online, go to http://www.state.nj.us/treasury/taxation/. You can find filing instructions in http://www.state.nj.us/treasury/taxation/pdf/other_forms/sales/ezfilein.pdf

You don’t need to file before your registered business start date. For example – if during registration you have indicated that you will start selling after 4/30/10 then your first filing date is before 7/20/10. If you need to change your registered business start date, you can call 609-292-9292 option #2.

It is important to file as penalties are very high.

Additional information about NJ Sales Tax is availabe in http://www.state.nj.us/treasury/taxation/pdf/pubs/sales/su4.pdf

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If you have formed an LLC or a corporation you will need to obtain an Employer Identification Number from the IRS. As a sole proprietor you can use your social security number for tax purposes or obtain an EIN.

In addition, you need to register with your state’s Division of Revenue for tax purposes.

To request  Employer Identification Number (EIN) follow the IRS link below and click on APPLY ONLINE NOW link.

http://www.irs.gov/businesses/small/article/0%2C%2Cid%3D102767%2C00.html

EIN is used in opening a bank account, filing a tax return, etc.

After completing the online application, you will receive an EIN number immediately.

To register with NewJersey Division of Revenue for tax purposes, click on the link below -

https://www.state.nj.us/cgi-bin/treasury/revenue/dcr/reg/sos_dcrnew01_page1.cgi.

Click here to visit my store – www.musebazaar.com.