REMINDER: Prepare Your Business for Gilbert’s 2025 Sales Tax Increase
The Town of Gilbert has announced key tax changes effective January 1, 2025, including an increase in the sales tax rate from 1.5% to 2.0%, the introduction of a 2.0% use tax, and a rise in the bed tax from 2.8% to 5.0%. These adjustments aim to fund critical infrastructure projects, but local businesses must take action to ensure compliance and maintain smooth operations. Here’s how you can prepare:
- Update Your Systems - Start by ensuring your point-of-sale (POS) and accounting systems are updated to reflect the new 2.0% sales tax rate. If you conduct online sales, confirm compliance with the 2.0% use tax for out-of-state purchases.
- Inform Your Customers - Notify your customers about the tax changes through in-store signage, email campaigns, and your website.
- Review Pricing and Contracts - Revisit any contracts or agreements that reference the sales tax rate and make necessary updates.
- Train Your Team - Prepare your staff to address customer questions regarding the tax changes. Providing them with clear talking points and FAQs can enhance customer interactions during this transition.
- Consult Tax Professionals - Partner with a tax advisor to ensure your business is fully compliant.
These tax changes are projected to generate $55 million annually to the town. By proactively preparing your business, you can navigate the transition smoothly. For detailed information, visit Gilbert’s official site.