S-CHIP Required Reading

[BengalMan]

Originally Posted by TheRiddick

May not be as difficult as you think. Every shop collects and then submits sales tax to the state, most on a quarterly basis at least here in CA. If they, say, report floor stock of X and then their subsequent quarterly sales tax submissions greatly exceed that number it won't take long before they are closed for inventory and double checked. I don't think any shop would want to play that game as it will cost them far more in the long run than paying actual floor tax. The last place you want to deal with is state tax board, they are far worse than IRS to deal with and have the authority to stop your business until they check the numbers.

I thought floor tax is not part of the SCHIP deal?

It is for RYO tobacco, which, in my area, a LOT of cigar shops stock it, and they don't stock a small amount of it.