Use tax is a tax imposed on the use of taxable items and services in New York when the sales tax has not been paid. A final return must be filed within 20 days after you cease business operations or the sale, transfer, or change occurs.Below, we'll cover the fundamentals of the accounting equation and the top business formulas that businesses should know. Most personal property (for example, alcohol, furniture, electronics, etc). Learn how small businesses are taxed in New York, and understand how tax rates vary based on whether the business is an S corporation, LLC or partnership. To calculate operating cash flow, add your net income and noncash expenses, then subtract the change in working capital. Who is exempt from this tax? Every Formula You Will Need for Edexcel Business A Level Paper 2. (one is missing - can you work out which one?) In business, you need to do some math from time to time.