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Council approves $900‑per‑quarter transaction/use tax reporting service
Summary
The council approved a consent‑calendar item to purchase transaction/use‑tax reporting for $900 per quarter ($3,600/year); staff explained transaction/use tax calculations differ from sales tax and require the vendor analysis.
At the meeting the council approved a consent‑calendar item for a transaction/use tax reporting service at a cost of $900 per quarter ($3,600 per year). Finance staff explained that the transaction/use‑tax calculation differs from the town’s sales‑tax reporting and requires vendor analysis to identify items included in the transactions and use tax that are not present in the sales tax. Council approved the item by motion and roll call.
Finance staff said the $3,600 annual cost is subject to an annual CPI adjustment in future years. The town intends to use the service to support accurate revenue accounting and budgeting.
