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Anyone's opinion on the fact that Gov. Scott Walker wants to raise sales tax in order to pay for the loss of revenue in lowering property taxes?
Wiki User
∙ 10y ago
Property tax is charged on the ownership of real estate property by local governments to fund public services, while sales tax is charged on the sale of goods and services by governments to generate revenue. Property tax is based on the assessed value of the property, while sales tax is a percentage of the purchase price of goods or services.
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Is it legal to charge sales tax on labor?
Sales tax on labor is typically not charged unless the labor is part of a taxable service or involves the sale of tangible personal property. Regulations vary by location, so it's best to consult with a local tax professional or the appropriate tax authority for guidance on whether sales tax should be charged on labor in a specific jurisdiction.
Can I be charged sales tax on personal property tax passed down from a lessor in the state of South Carolina?
In South Carolina, personal property tax is typically not subject to sales tax when it is passed down from a lessor. However, it's important to consult with a tax professional or the South Carolina Department of Revenue for specific guidance based on your unique situation.
What is the difference between property tax and sales tax?
Property tax is a tax imposed on the value of real estate properties, levied by local governments to fund services like schools and infrastructure. Sales tax, on the other hand, is a tax placed on goods and services at the point of sale, collected by the merchant and remitted to the government. Property tax is a recurring tax based on property value, while sales tax is a one-time tax based on the transaction value.
Can you charge sales tax on labor in South Carolina?
In South Carolina, sales tax is not typically charged on labor services if they are provided separately from the sale of tangible personal property. However, if the labor is directly related to a taxable sale, then it may be subject to sales tax. It is recommended to consult the South Carolina Department of Revenue or a tax professional for specific guidance on your situation.
What is an example of a property tax?
An example of a property tax is the tax that homeowners pay on their residential property to the local government based on the assessed value of the property. This tax is used to fund local services such as schools, roads, and public safety.
Can you add sales tax to labor in Arizona?
Yes, if the labor involves repairing, replacing or affixing to real property, it is charged at the rate of 65% of the sales tax for the county where the property is located.
Is it legal to charge sales tax on labor?
Sales tax on labor is typically not charged unless the labor is part of a taxable service or involves the sale of tangible personal property. Regulations vary by location, so it's best to consult with a local tax professional or the appropriate tax authority for guidance on whether sales tax should be charged on labor in a specific jurisdiction.
Can a late fee be charged sales tax?
In most states, a late fee is not a "sale," and therefore should not be charged sales tax.
What is the difference between sales tax and vat?
Sales Tax is a tax charged on Sale of any item whereas VAT is value added tax charged on both sale & purchase.
Do you charge sales tax on labor in Illinois?
Sales tax is charged on parts, etc. not labor.
What is input tax?
Your taxable sales only-those from in state buyers who you charged sales tax. (If you do.)
The price of an item before tax was 48.00 The sales tax was 2.16 What percent of tax was charged?
The percent of the sales tax was 4.5%
Can I be charged sales tax on personal property tax passed down from a lessor in the state of South Carolina?
In South Carolina, personal property tax is typically not subject to sales tax when it is passed down from a lessor. However, it's important to consult with a tax professional or the South Carolina Department of Revenue for specific guidance based on your unique situation.
What sales tax are you charged if you buy a car out of state?
You should be charged the sales tax from the state you live in. I know that if you live in NH and you buy a car in another state you aren't charged any tax because NH doesn't have tax.
Are the 2 taxes charged on each pack of cigarettes a sales tax?
There is a federal excise tax and a state sales tax.
What is the difference between property tax and sales tax?
Property tax is a tax imposed on the value of real estate properties, levied by local governments to fund services like schools and infrastructure. Sales tax, on the other hand, is a tax placed on goods and services at the point of sale, collected by the merchant and remitted to the government. Property tax is a recurring tax based on property value, while sales tax is a one-time tax based on the transaction value.
What is a property tax sale auction?
Cities and Counties use property tax sales to collect delinquent property taxes. About 4% of property taxes are delinquent each year and this is the method the taxing authorities use to collect the taxes. There are two types of sales, tax lien sales, where they sell a lien on the property to an investor (who will earn a very attractive interest rate and get the property if they are not paid back), and tax deed sales where the taxing jurisdiction sells the property outright. To learn more about tax sales go to the related link.
