Delaware Cash Receipts Journal
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How to fill out Cash Receipts Journal?
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FAQ
Gross sales, known as top-line sales, are the total of all product and service sales reported by an organization during a period. Because gross sales are the total unadjusted sales, no returns, allowances, rebates, or discounts are included.
You may now file your gross receipts tax returns online and make a payment via credit/debit card or by Automated Clearing House (ACH) transaction from your checking account by visiting revenue.delaware.gov and clicking the link File Gross Receipts Tax. You will need either your Federal Employer Identification Number
Delaware and Oregon do not have economic nexus laws on the books because they do not need to. The four states that don't have sales tax are Delaware, Montana, New Hampshire, and Oregon. States without sales tax revenue do not need to be concerned with economic nexus.
Nexus determination is primarily controlled by the U.S. Constitution, in which the Due Process Clause requires a definite link or minimal connection between a state and the entity it wants to tax, and the Commerce Clause requires substantial presence.
Add up your total sales to get gross receipts. If you've kept good records, it should be simple. Then subtract the cost of goods sold, as well as sales returns and allowances, to get your total income.
Gross receipts include all revenue in whatever form received or accrued (in accordance with the entity's accounting method) from whatever source, including from the sales of products or services, interest, dividends, rents, royalties, fees or commissions, reduced by returns and allowances.
Gross receipts are the total amounts the organization received from all sources during its annual accounting period, without subtracting any costs or expenses.
To find your gross receipts for personal income, add up your sales. Then, subtract your cost of goods sold and sales returns and allowances to get total income.
Physical presence nexus means a business has a direct connection to a state; that connection allows the state or locality to levy sales tax on purchases from that business and imposes requirements to collect and remit taxes.
The Delaware Division of Revenue states that merely creating an Internet site by a non-Delaware business does not, by itself, create nexus. But, locating a server in Delaware would create nexus/jurisdiction to tax the respective business. Currently, there are no Delaware economic nexus changes.
