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When you file your sales tax return and pay the full amount due on time, you may be eligible to claim a vendor collection credit. This credit will reduce the amount of money that you must send to New York State with your sales tax return.
Your business is eligible for the vendor collection credit if you file sales tax returns:
To qualify, you must file your return on time and pay what you owe in full. You can't claim the vendor collection credit on an amended return or on a past-due return. You can't carry over the credit to a future return.
Effective June 1, 2010, the following businesses are no longer eligible for the vendor collection credit:
businesses enrolled in the PrompTax program for sales tax.
If you qualify, the credit equals 5% of the taxes and fees reported on your return, up to a maximum of $200 for each quarterly or annual reporting period. These taxes and fees are included when calculating the credit:
If you are eligible, Sales Tax Web File will automatically calculate the credit and deduct it from your return.
If you can't file online, follow the instructions on your paper return to claim the credit.
Tax Law: Section 1137(f)
Publication 750, A Guide to Sales Tax in New York State