sales and use tax decrease on June 1 - contact your vendors

Hey ladies,

Just want to let you know the NY sales & use tax is decreasing by 1/4% as of June 1, 2005.

That means the tax rate for your catering hall (and all vendors) is now 8.625% for Suffolk & Nassau halls (instead of 8.75%) and 8.375% for NYC halls (instead of 8.625%).

If you paid at the higher tax rate for a date on June 1, 2005 or after, make sure to have your pricing adjusted It's not a huge savings but it's still yours to keep.

ETA - It's NYS Dept of Taxation & Finance notice ST-05-4 for Long Island and notice ST-05-03 for NYC. All this is summarized in N-05-8

N-05-8 with rate chart

ST-05-4

ST-05-3

ETA - The new rate goes into effect on June 1 so for any sales/use taking place after June 1 the vendor must honor the new tax rate. They CANNOT charge 8.75% tax on or after June 1, 2005 no matter what the contract says.

If they try to say otherwise, it's a violation and I'd report it ASAP. If they charge you the higher rate you know they will NOT report that they charged you the higher rate when it's time to pay taxes on that income.

Thanks for the info! Do you know if this tax savings is applicable to any other vendors (like florists, photographers, limos, band/dj's?)
TIA
Lisa

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Posted by lrs2005

Thanks for the info! Do you know if this tax savings is applicable to any other vendors (like florists, photographers, limos, band/dj's?)
TIA
Lisa

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It's for everyone It's a NY state decrease.

I just have to say, you ALWAYS have such informative posts!! Thank you!

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Posted by lrs2005

Thanks for the info! Do you know if this tax savings is applicable to any other vendors (like florists, photographers, limos, band/dj's?)
TIA
Lisa

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FYI...my DJ said there is no tax on DJ services!

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Posted by marc_rai

Thanks!! Dleeny is right. You do have the bomb posts!

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Awwww. Thanks ladies.

I think this site is very informative (albeit catty at times) and I try to contribute most often to the informative part. However, I do post my vents once in a while too

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Posted by kdrainey

Hey ladies,

Just want to let you know the NY sales & use tax is decreasing by 1/4% as of June 1, 2005.

That means the tax rate for your catering hall (and all vendors) is now 8.625% for Suffolk & Nassau halls (instead of 8.75%) and 8.375% for NYC halls (instead of 8.625%).

If you paid at the higher tax rate for a date on June 1, 2005 or after, make sure to have your pricing adjusted It's not a huge savings but it's still yours to keep.

ETA - It's NYS Dept of Taxation & Finance notice ST-05-4 for Long Island and notice ST-05-03 for NYC. All this is summarized in N-05-8

N-05-8 with rate chart

ST-05-4

ST-05-3

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Question...what if the vendor says 'your contract says 8.75, so it's 8.75'

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Posted by MsKitty1274

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Posted by lrs2005

Thanks for the info! Do you know if this tax savings is applicable to any other vendors (like florists, photographers, limos, band/dj's?)
TIA
Lisa

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FYI...my DJ said there is no tax on DJ services!

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Cool!

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Posted by MsKitty1274

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Posted by kdrainey

Hey ladies,

Just want to let you know the NY sales & use tax is decreasing by 1/4% as of June 1, 2005.

That means the tax rate for your catering hall (and all vendors) is now 8.625% for Suffolk & Nassau halls (instead of 8.75%) and 8.375% for NYC halls (instead of 8.625%).

If you paid at the higher tax rate for a date on June 1, 2005 or after, make sure to have your pricing adjusted It's not a huge savings but it's still yours to keep.

ETA - It's NYS Dept of Taxation & Finance notice ST-05-4 for Long Island and notice ST-05-03 for NYC. All this is summarized in N-05-8

N-05-8 with rate chart

ST-05-4

ST-05-3

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Question...what if the vendor says 'your contract says 8.75, so it's 8.75'

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Got your FM

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Posted by kdrainey

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Posted by MsKitty1274

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Posted by kdrainey

Hey ladies,

Just want to let you know the NY sales & use tax is decreasing by 1/4% as of June 1, 2005.

That means the tax rate for your catering hall (and all vendors) is now 8.625% for Suffolk & Nassau halls (instead of 8.75%) and 8.375% for NYC halls (instead of 8.625%).

If you paid at the higher tax rate for a date on June 1, 2005 or after, make sure to have your pricing adjusted It's not a huge savings but it's still yours to keep.

ETA - It's NYS Dept of Taxation & Finance notice ST-05-4 for Long Island and notice ST-05-03 for NYC. All this is summarized in N-05-8

N-05-8 with rate chart

ST-05-4

ST-05-3

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Question...what if the vendor says 'your contract says 8.75, so it's 8.75'

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Got your FM

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Thanks!

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Posted by MsKitty1274

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Posted by kdrainey

Hey ladies,

Just want to let you know the NY sales & use tax is decreasing by 1/4% as of June 1, 2005.

That means the tax rate for your catering hall (and all vendors) is now 8.625% for Suffolk & Nassau halls (instead of 8.75%) and 8.375% for NYC halls (instead of 8.625%).

If you paid at the higher tax rate for a date on June 1, 2005 or after, make sure to have your pricing adjusted It's not a huge savings but it's still yours to keep.

ETA - It's NYS Dept of Taxation & Finance notice ST-05-4 for Long Island and notice ST-05-03 for NYC. All this is summarized in N-05-8

N-05-8 with rate chart

ST-05-4

ST-05-3

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Question...what if the vendor says 'your contract says 8.75, so it's 8.75'

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They shouldn't say that. Plus on the site that KD posted it specifically states that they have to use the new rate if your date is after June 1. Most of my vendors just wrote 'and tax' on the contract because they said the rate might change! Can you believe that I was actually trying to lock in 8.75% because I thought the rate might go up??? Thank goodness they wouldn't let me.

WOW!! THANK YOU!!!!!

can you please FM on what to do if they say it's 8.75% on the contract?

THANKS!!!!!!

Great tip. Thanks.

Every little bit of savings count! Thanks sooo much! I would also love information on what to do since my contract states old sales tax.