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    Buebe's Avatar
    Buebe Posts: 1, Reputation: 1
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    #1

    Feb 11, 2014, 08:56 AM
    For products requiring excise tax, how do you accept deposits prior to final product?
    When selling products that require quarterly excise tax payments, how do you accept payments without paying taxes on the product until it is actually completed and shipped? In other words, I want to avoid paying taxes in quarter 1 if the product will not fully be paid for until quarter 2 or 3 and shipped then.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 11, 2014, 09:41 AM
    You do NOT.

    Most businesses operate on the "cash" method of accounting, which mean the payment is recorded when made, so that is when the taxes are due.
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