Escalon Chamber of Commerce

This page is for you the membership to give us information about your business.  If you have an article you would like to share, just email it to the Chamber at www.escalonba.org.   Articles will be published in the order they are submitted and run for approximately two weeks.

New Use Tax Registration Requirements for Qualified Purchasers

This email is a reminder about the newly added section 6225 to the California Revenue and Taxation Code (RTC) that requires a qualified purchaser to register with the Board of Equalization (BOE) and report and pay use tax directly to the BOE by April 15^th for the preceding calendar year for purchases subject to use tax.  Under this section, a qualified purchaser is a person who has at least $100,000 in gross receipts per year from business operations, is not required to hold a seller’s permit or a certificate of registration use tax, does not hold a use tax direct payment permit, or is not otherwise registered with the BOE for use tax.  In September 2009 we sent the following link to our special notice with information regarding the new use tax registration requirements: http://www.boe.ca.gov/news/pdf/l232.pdf.

Under

law, if sales tax would apply when a particular item is purchased in

, use tax applies when a similar purchase is made from a retailer outside the state and no tax is charged.  Use tax is not a new tax.  It has been a part of the California RTC since the 1930’s.  Only the registration requirement is new under RTC section 6225.

As part of our registration efforts, we contacted approximately 180,000 identified qualified purchasers and informed them of the new program.  In an effort to help ease taxpayer burden, we have registered those taxpayers through our automated registration system.  In the next couple of weeks, taxpayers will receive their “welcome letter”, a copy of which is provided in the attached link (http://www.boe.ca.gov/news/pdf/qp_a.pdf ).  The letter introduces the program and provides taxpayers with their new BOE account number and express login code.  Through our automated system, taxpayers will use their account number and express login code to efile their use tax returns for years 2007, 2008 and 2009.  For more information about the BOE’s efiling and other tax and fee programs, please visit our website at www.boe.ca.gov. 

HOW TO SHOP FOR TERM LIFE INSURANCE

Annie Gallagher

The first step that you should take in shopping for term life insurance is to assess your current situation to determine what type of insurance policy you would be comfortable purchasing.

Your next step is to determine how much life insurance you need.  A general rule of thumb is to purchase term life insurance that exceeds five to ten times your gross annual income.

For the majority of consumers, term life insurance will provide the greatest amount of protection on your investment.  For others Accumulation of Cash Value will provide additional valuable benefits.

Compare the costs associated with each different insurance company.  Always consider the differences between competing insurance companies.

If you are considering the purchase of term or any other life product don’t wait.  If your health changes if could cost you more or you may not qualify for the amount that you need.

Always try to work with a professional someone that understands your needs and reasons why you need or want the life insurance. 

Cromwell & Ney Ins. Agency offers such a person, Annie has been in the business for 20 years, she will do the searching for you.  You will not need to set up your own exam (if needed), nor will you have to call an 800# push 1, 2 or 3 to find out what is going on with your application, just pick up the phone and call our office. 209-838-3561