The parties have entered into an agreement whereby one party has been retained to manage and operate a certain business. Other provisions of the agreement.
The parties have entered into an agreement whereby one party has been retained to manage and operate a certain business. Other provisions of the agreement.
Net profit is equal to total revenue minus total costs. Expenses like advertising, insurance, rent and business rates are taken away before calculating net profit.
When are quarterly and monthly sales and use tax returns due? Quarterly returns are due on or before the last day of January, April, July, and October for the preceding three-month period. Monthly returns are due on or before the 20th of the month following the end of the month.
A seller's permit (also known as a sales tax license, retail license, sales and use tax permit, vendor's license, or sales tax permit) is a business license that allows you to collect sales tax on taxable goods and services you sell or lease, including properties if selling regularly.
In general, you need a sales tax permit in North Carolina if you have a physical presence or meet economic nexus requirements. For more detailed information on the necessity of getting a permit, you can learn more at our blog post “Do You Need to Get a Sales Tax Permit in North Carolina?”.
Is a seller's permit/resale license and EIN/Tax ID the same? These are not the same thing. A seller's permit/resale license is the same as a state tax ID, as both are issued by the state for sales tax purposes. An EIN or federal tax ID number, however, is issued by the federal government, not the state.