New York Sales Tax Web File Changes

New York State has recently announced that it enhanced its Sales Tax Web File to make it “more user and business friendly.”  However, taxpayers will need to modify their systems to capture the additional reporting requirements.

First, the “user friendly” news: New York states that the new system will “have an improved look and feel,” and will allow for electronic filing of all schedules, late and amended returns and refund or credit request applications. It will also allow users to document claims for a refunds/credits, and will allow for an explanation to accompany Final Returns. This is all good news, as the more information which can be entered online (especially information that requires explanations which can also be filed online), the easier online filing becomes.

Second, the “business friendly” news: New York will require that the following information be reported with each return:
• total non-taxable and exempt sales;
• the amount of debit and credit card deposits;
• for each jurisdiction for which you report sales, separately reported receipts, purchases, and the credits claimed
• information about the nature of the credits claimed; and
• the ID numbers of the legal entity (meaning either a business or an individual) that will report the income from the sales reported on the sales tax return

The new system will be available for returns due after September 20, 2012. Returns due on or before September 20, 2012, will be filed under the old system. Vendors will have until June, 2013 to make changes to their recordkeeping and reporting systems.  Beginning with returns for filing periods beginning on or after June 1, 2013, the new reporting requirements will be mandatory.

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