- Maine Revenue Services (MRS) issued a notice about claiming credits on sales tax returns for goods purchased for resale.
- The notice clarifies eligibility criteria and correct usage of the “Credit for Sales Tax Paid on Goods Purchased for Resale” line.
- The credit is only for retailers without an active resale certificate.
- Retailers with an active resale certificate are prohibited from using this credit line.
- Retailers with an active resale certificate should provide their resale certificate to vendors at the time of purchase.
- MRS updated the Maine Tax Portal (MTP) to prevent retailers with an active resale certificate from claiming the credit.
- Retailers with a resale certificate who paid sales tax on goods intended for resale can request a refund through the MTP.
- Required documentation for the refund application includes receipts, payment evidence, and sales documentation.
- Retailers are encouraged to review their sales tax return practices to ensure compliance.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
