Dealing with sales and use tax (SUT) is unavoidable when conducting business activity, and all contractors need to be aware of its potential impact on operations. Depending on where you conduct business, there are different rules based on the state and its localities. The lack of uniformity can be seen merely by focusing on the Washington Metro area, which includes Maryland, Virginia, and the District of Columbia. Before getting into some of the specific differences, let’s cover the basics.
First, what is sales and use tax? The main difference between a sales tax and a use tax pertains to the burden …read more
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