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Client purchased an airplane in 2014, was audited and pd NYS sales tax in 2016. Can the sales tax paid for 2014 now be deducted for 2016, since it was paid in 2016?

 
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bwa
Alumni
Alumni

Client purchased an airplane in 2014, was audited and pd NYS sales tax in 2016. Can the sales tax paid for 2014 now be deducted for 2016, since it was paid in 2016?

It can, but only if the total sales taxes exceed the client's total state income taxes.

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2 Replies
bwa
Alumni
Alumni

Client purchased an airplane in 2014, was audited and pd NYS sales tax in 2016. Can the sales tax paid for 2014 now be deducted for 2016, since it was paid in 2016?

It can, but only if the total sales taxes exceed the client's total state income taxes.

Client purchased an airplane in 2014, was audited and pd NYS sales tax in 2016. Can the sales tax paid for 2014 now be deducted for 2016, since it was paid in 2016?

Thank you for the quick response.

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