I am in the planning stage for a new business that will be conducting business in the state of Texas. Eventually I would like to branch out into other states, but for the time being we will only be in Texas. I am totally clueless when it comes to Sales Taxes and what I need to collect. I will be operating in Houston, Harris Country, TX and selling all over the state. I eventually will be accepting orders over the Internet, but not at first. I've been reading at:
My product is taxable and will be shipped by postal mail (USPS). I plan on reporting monthly simply because I don't want to hold on to the sales tax money, I'd rather get it out of my hands and into that of the state. Which taxes do I need to collect and what is the rate?
When are Internet-based sales taxable?
Since I want to keep the sales tax separate from actual proceeds from sales, I plan on depositing this money into a separate bank account. Can the tax account be a saving account?
If so, can I keep the interest generated on that money?
And finally, does anybody know a good, "in plain english", guide to business-related taxes for the State of Texas? Thanks, Tammy
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