TTR Announces Over 5,000 New Sales Tax Answers for Convenience Stores

Thursday, April 9th, 2015

 
 
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(McMinnville, OR, April 9, 2015) - Today, TTR announced the release of its first ever tax answer library for convenience stores.

TTR worked closely with the largest food retailers in the United States. Based on valuable industry feedback, TTR added tax research for sales of food sold by convenience stores. TTR's newly added tax answers distinguish between sales made by grocery stores versus sales made by convenience stores.

Why is that significant?

As many retailers are aware, exemptions for sales of food do not always apply to sales by a convenience store. In some states, sales of the exact same food is exempt when sold by a grocery store, but is taxed when sold by a convenience store. Sales of other items, like loaves of bread, are not taxable in either store.

These differences can lead to confusion and complexity.

With industry help, TTR has solved this problem by breaking out sales of food items into two separate libraries, one for convenience stores and one for grocery stores, providing tax professionals with clear tax answers.


About TTR

Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.

TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

Please visit TTR on the web at www.ttrus.com or call 866.578.8193.

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