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Tuesday, March 10, 2015

Use Tax Lookup Tables

Source: Kentucky 2014 Individual Tax Form Instructions
 I like use tax lookup tables. These are tables a few states allow for individuals to estimate their use tax owed, which they then include on their state income tax form to become use tax compliant.  No need to keep records of all use tax transactions.  I'm not sure what data and projections states use to create the look-up tables.  I compare three state tables in this post - here.

What do you think? Do you use one (if available)?  Do you think they are good estimates?


Valerie said...

I do use when, and I think this has good estimates for a tax table. They're always so helpful to have!

James Harvon said...

These tax tables could come in use as I configure estimates for my taxes. Once I am ready to file, I will certainly look into finding an accountant to assist me. It's helpful to be prepared so I have an idea to know what to expect though.