Sales/Use Tax Bond Calculator - Help
If you have not already created a business plan for your business, which would contain your estimated sales and need help in figuring out how much your estimated monthly sales need to be, this example may help.
Computing the Amount of the Bond
Estimated Monthly Gross Sales X Your Tax Rate = Monthly Tax
Monthly Tax X 3 = Amount of Bond (Round to the nearest $10)
Estimated monthly gross is the amount of sales you estimate your business will make in taxable sales per an average month. If you are a small business, one of the things you should consider in estimating your average monthly gross is your operating expenses; such as: rent, utilities, etc. Your average monthly gross should be higher than your estimated operating expenses.
Example: Mr. X will be opening a new sporting goods store in the city limits of Jefferson City, which has a tax rate of 6.725 percent. Because the business has no sales he must estimate his average gross sales per month in order to compute the bond. Mr. X estimated his average gross sales to be $7,000 per month.
This is how Mr. X computed his bond: $7,000 X 6.725% = $470.75 then $470.75 X 3 = $1,412.25
Amount of bond = $1,410
If you are unable to estimate your monthly sales, you may contact the Customer Service - Business Tax Registration Section at (573) 751-5860 for assistance. Business Tax Registration Section reviews the bond amount to ensure it is sufficient in accordance with the Missouri Statutes.
The following items are taken into consideration when determining a sufficient bond amount: previous ownership of business, types of products or services sold, location of business, business hours, operating expenses, etc.