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California’s Sales Tax will Decrease January 1, 2017

 

On January 1, 2017, the statewide sales and use tax rate will decrease one quarter of one percent (0.25%).  The decrease in the statewide rate is effective for all cities and counties in California.  Sales tax is comprised of the statewide sales and use tax rate of 7.25 percent plus any district tax.  For most of Orange County California the the new sales tax is 7.75 percent down from 8.00 percent.

Most of Orange County is a full 1.00 percent or more less than Los Angeles County.

Why is the sales and use tax rate decreasing?  Proposition 30, The Schools and Local Public Safety Protection Act of 2012 that was approved by California voters in November 2012 to temporarily increase the sales and use tax by 0.25 percent expires December 31, 2016.

A retailer who continues to charge and collect the higher statewide sales and use tax rate after January 1, 2017, must either refund the excess tax collected to their customer or pay the excess tax to the Board of Equalization (BOE).  You may not keep it.

List of Orange County Sales Tax Rates as of January 1, 2017.

Counties Rate Location
  Orange   7.750 %   Aliso Viejo*
  Orange   7.750 %   Anaheim*
  Orange   7.750 %   Atwood
  Orange   7.750 %   Balboa (Newport Beach*)
  Orange   7.750 %   Balboa Island (Newport Beach*)
  Orange   7.750 %   Ballroad
  Orange   7.750 %   Bolsa
  Orange   7.750 %   Brea*
  Orange   7.750 %   Brookhurst Center
  Orange   7.750 %   Buena Park*
  Orange   7.750 %   Capistrano Beach (Dana Point*)
  Orange   7.750 %   Corona Del Mar (Newport Beach*)
  Orange   7.750 %   Costa Mesa*
  Orange   7.750 %   Coto De Caza
  Orange   7.750 %   Cowan Heights
  Orange   7.750 %   Dana Point*
  Orange   7.750 %   East Irvine (Irvine*)
  Orange   7.750 %   El Modena
  Orange   7.750 %   El Toro (Lake Forest*)
  Orange   7.750 %   El Toro M.C.A.S.
  Orange   7.750 %   Foothill Ranch
  Orange   7.750 %   Fountain Valley*
  Orange   7.750 %   Fullerton*
  Orange   7.750 %   Garden Grove*
  Orange   7.750 %   Huntington
  Orange   7.750 %   Huntington Beach*
  Orange   7.750 %   Irvine*
  Orange   8.250 %   La Habra*
  Orange   7.750 %   La Palma*
  Orange   7.750 %   Ladera Ranch
  Orange   7.750 %   Laguna Beach*
  Orange   7.750 %   Laguna Hills*
  Orange   7.750 %   Laguna Niguel*
  Orange   7.750 %   Laguna Woods*
  Orange   7.750 %   Lake Forest*
  Orange   7.750 %   Leisure World
  Orange   7.750 %   Leisure World (Seal Beach*)
  Orange   7.750 %   Los Alamitos*
  Orange   7.750 %   Mariner
  Orange   7.750 %   Midway City
  Orange   7.750 %   Mission Viejo*
  Orange   7.750 %   Monarch Beach (Dana Point*)
  Orange   7.750 %   Newport Beach*
  Orange   7.750 %   Orange*
  Orange   7.750 %   Placentia*
  Orange   7.750 %   Rancho Santa Margarita*
  Orange   7.750 %   Rossmoor
  Orange   7.750 %   San Clemente*
  Orange   7.750 %   San Juan Capistrano*
  Orange   7.750 %   San Juan Plaza (San Juan Capistrano*)
  Orange   7.750 %   Santa Ana*
  Orange   7.750 %   Seal Beach*
  Orange   7.750 %   Silverado Canyon
  Orange   7.750 %   South Laguna (Laguna Beach*)
  Orange   8.750 %   Stanton*
  Orange   7.750 %   Sunset Beach
  Orange   7.750 %   Surfside (Seal Beach*)
  Orange   7.750 %   Trabuco Canyon
  Orange   7.750 %   Tustin*
  Orange   7.750 %   University Park (Irvine*)
  Orange   7.750 %   Villa Park*
  Orange   7.750 %   Westminster*
  Orange   7.750 %   Yorba Linda*
  Orange   7.750 %   Cypress*

(Note: “*” next to city indicates incorporated city)
Obtained from California State Board of Equalization website January 4, 2017.

To go to California State Board of Equalization website and check tax rates for different cities or counties click here.

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How Do I Make an Accountant’s Copy in QuickBooks?

How to send the accountant’s copy of QuickBooks to your accountant:

  1. Go to the main screen of QuickBooks and click on <File>
  2. Go to Accountant’s Copy —-> Click <Send to accountant>  You will get a screen that confirms you want to send a file to your accountant
  3. Click <Next>
  4. Enter a date:  xx/xx/xxxx – QuickBooks is looking for something called the dividing date.  The dividing date separates what period is closed so your accountant can make changes, but you will not be able to make changes until you receive the changes from your accountant or remove the restrictions.
  5. Click <Next>
  6. Enter your accountant’s email address.
  7. Enter your name and your email address and then click <Next>
  8. QuickBooks is looking for a password. I would recommend calling or texting your accountant with the password.  Keep in mind the password must be at least 7 characters and both capital and non capital letters and at least one number.
  9. Write a quick note to your accountant i.e.  Here is the QuickBooks file for your review for the second quarter 2016.
  10. Click <Send>
  11. A pop up tells you that QuickBooks must close all your windows to create an accountant’s copy. Click <OK>.
  12. A message will appear that basically says that the accountant’s copy depending on how large may take up to 15 minutes to be sent to your accountant.

Watch video below: