89 – Taxes – Other Than Real Estate, Income, & Payroll

Overhead Expenses

 

Synopsis

Account 89

Debits

Credits

  1. All other operating taxes accessed the retailer for doing business.

 

 

Remarks:

Do not include payroll, income, real estate, or excise taxes in this account.

In as much as states, cities, and municipalities differ considerably in the kind of taxes levied, it is impossible to list all of them.  Each retailer should be careful to include those taxes in effect in its locality.

Charges to this account should include taxes of a general operating nature, which are not enumerated elsewhere, such as: personal property taxes; intangible taxes; gross receipts taxes; sales and use taxes paid or due on material used or consumed (excluding all vehicles, stationary, etc., used by the retailer); franchise taxes (fees); and documentary stamps (due on stock certificates).