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Note 1 - Summary of Significant Accounting Policies: Presentation of Sales and Similar Taxes (Policies)
12 Months Ended
Dec. 31, 2020
Policies  
Presentation of Sales and Similar Taxes

Presentation of Sales and Similar Taxes

 

Sales tax on revenue-producing transactions is recorded as a liability when the sale occurs.  UTMD is not required to withhold sales tax on OUS sales, and at least 90% of domestic 2020 sales were to customers who are tax exempt or who are in jurisdictions where UTMD is not required to withhold sales tax.