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    Question

    The amount of sales tax collected by a retail store when making sales is a miscellaneous revenue for the s?
    The amount of sales tax collected by a retail store when making sales is a miscellaneous revenue for the store. a current liability. not recorded because it is a tax paid by the customer. recorded as an operating expens
    a few seconds ago 1 Answer

    Best Answer

    It depends. If the sales tax is levied against the buyer, the amount is collected from the buyer and held by the retailer until it is turned over to the state. That would be a current liability. However, in some states sales tax is levied against the business. In that case, the tax amount would be included in gross receipts, and the amount turned over to the state would be an operating expense in the category of "Taxes Paid."
    a few seconds ago

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