Maine Franchisee Closing Questionnaire

State:
Multi-State
Control #:
US-9-01-STP
Format:
Word; 
Rich Text
Instant download

Description

The franchisee desires to purchase a franchise for the location described in the document. The company requires that the franchisee complete this questionnare in order to enable the company to confirm that it and its employees and representatives have fully complied with all applicable franchise registration and disclosure laws.
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FAQ

Maine's state sales tax rate is 5.5 percent on retail sales. It has several other taxes it charges, including a marijuana tax, lodging tax, and vehicle rental tax. Maine also charges excise fees for tires and batteries. Maine does not have discretionary taxes ? local sales taxes charged by local cities and counties.

Some goods are exempt from sales tax under Maine law. Examples include some groceries, prescription drugs, and medical devices. We recommend businesses review the bulletins and notices put forth by Maine Revenue Services to stay up to date on which goods are taxable and which are exempt, and under what conditions.

Maine resale certificates are only to be used when a purchaser intends to resell tangible property. A valid certificate must include the name and address of the purchaser. It should also include the purchaser's account ID or federal employer identification number (EIN).

How to calculate the discounted price including sales tax - YouTube YouTube Start of suggested clip End of suggested clip We can use the original. Price okay minus the original price. Okay original price times the percentMoreWe can use the original. Price okay minus the original price. Okay original price times the percent discount and I'm just gonna put a percent discount.

Here's how to calculate the sales tax on an item or service: Know the retail price and the sales tax percentage. Divide the sales tax percentage by 100 to get a decimal. Multiply the retail price by the decimal to calculate the sales tax amount.

Fortunately, collecting sales tax in Maine is fairly simple. The state sales tax rate is 5.5% and Maine doesn't have local sales tax rates. So whether you live in Maine or outside Maine but have nexus and sell to a customer there, you would charge your customer the 5.5% sales tax rate on most transactions.

Nexus with Maine is generally created by conducting business in Maine, or by owning or using property in Maine.

To close a tax account, a final return must be filed. For online filers: After completing the return, return to the Activity menu and choose ?Change Business Information.? Enter the date the business closed. Choose Submit. You will be redirected to the Activity screen.

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Maine Franchisee Closing Questionnaire