There may be mandatory taxes that you have to pay that can vary greatly state by state!
Today’s post is from our from our SafeSourcing archive.
When you are planning out purchases, whether it’s for a business or a personal purchase, for most people and companies it is planned out as part of a budget. Just looking at the price tag can give you a false sense of security as to what you are going to pay and ultimately blow your budget if you don’t plan for it properly. There are any variety of adders that you will have to take into account in order to fully set and adhere to your budget for any purchase.
Let’s take Van Trailers for example. The mandatory taxes that you have to pay vary state by state, and also vary by your company. For trailers, in the state of Ohio, manufacturers have to pay a 12% Federal Excess Tax upfront in order to sell a trailer to anyone in the State of Ohio and include that in their price. You also have to know what your sales tax will be for the purchase. If you are using the trailer as a transportation company, sales tax will not apply to you.
At SafeSourcing we know what to ask and what to include in your scope of spend. We understand the tax issues and other types of duties mandated by the federal and state governments for specific industries. For more information as to how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.
We look forward to your comments.