DGS49
Diamond Member
(1) all interstate sales transactions are subject to a 5% NPST.
(2) Seller (e.g., Tire Rack) collects the tax and remits to the IRS.
(3) IRS retains 0.25% and remits the balance to the respective states based on ship to zip code.
(4) States agree to accept the NPST in full satisfaction of the state's sales or use tax on interstate sales transactions.
(5) the only funds retained by the Feds are the 0.25%.
(2) Seller (e.g., Tire Rack) collects the tax and remits to the IRS.
(3) IRS retains 0.25% and remits the balance to the respective states based on ship to zip code.
(4) States agree to accept the NPST in full satisfaction of the state's sales or use tax on interstate sales transactions.
(5) the only funds retained by the Feds are the 0.25%.