Inventoried liquors should include alcohol, wine and high-gravity beer. For purposes of completing lines one and two on the alcoholic beverages for consumption on the premises (liquor-by-the-drink tax) tax return, include the total inventory for all three types of alcohol.
What liquors do I include in my inventory values?
- How do I measure and determine my inventory values?
- Am I required to include the amount of liquor-by-the-drink tax and sales tax on my drink menu?
- The tax return asks for my beginning and ending inventory for each month. What if the inventory is performed monthly but not on the first and last day of the month?
- I am beginning a business which includes selling liquor for consumption on the premises. I am required to file a price schedule with the Department of Revenue, but I am not sure what my average pour sizes and selling prices will be. What should I do?
- How do I calculate my gross sales?