Sales tax is a tax on consumption, levied on goods and services at the point of purchase. They are typically figured as a percentage on the price of the item in question, but may simply be a flat fee.There is no federal sales or use tax in the United States. 45 states impose sales and use taxes on the retail sale, lease and rental of many goods, as well as some services. And many cities, towns, counties and other jurisdicitions may impose a sales tax, or something similar (special excise taxes for example). Sometimes on a product that the others don't charge a tax on, sometimes on one they already do. Sometimes these taxes are subject to be part of the taxable receipt for calculating the tax from anothers' tax.So yes, it is entirely possible to pay a sales tax on a sales tax. Fellow Contributor, It may be possible but it is not feasible. Even wealthy people would have an issue with giving their precious few cents away on every item they buy, No matter what, wealthy people complain when they have to fork out the extra almighty dollar even if the expense for them are neutralized by favors and tax breaks. Why should the poor pay for the rich to survive?
sales tax sales tax!
Sales Tax / Sales Tax Rate = Gross Sale
If an item costs $1,075.00 and the value of the sales tax is $43.00, the percentage of sales tax is 4%
yes Montana has sales tax. there tax is 8.7 sales tax. NO, Montana does NOT have a Sales Tax. Or, to put it another way, there is a 0.0% sales tax. I have lived here for years...I don't pay a sales tax. Whoever said yes, must not live in Montana.
debit sales tax expensecredit sales tax payable
sales tax sales tax!
Sales tax, of course.
Sales Tax / Sales Tax Rate = Gross Sale
Total with sales tax $48.76 minus total without sales tax $46.00 = sales tax $2.76. Sales tax $2.76 divided by purchase $46.00 = sales tax rate 6%.
If an item costs $1,075.00 and the value of the sales tax is $43.00, the percentage of sales tax is 4%
No, you do not pay sales tax on labor. Sales tax is for materials.
yes Montana has sales tax. there tax is 8.7 sales tax. NO, Montana does NOT have a Sales Tax. Or, to put it another way, there is a 0.0% sales tax. I have lived here for years...I don't pay a sales tax. Whoever said yes, must not live in Montana.
There is no sales tax in the state of Oregon.
The total tax is $0.14
debit sales tax expensecredit sales tax payable
Alaska does not have a State sales tax; however, several communities across the state do have a sales tax. These taxes are low - about 2%.
When a business collects Sales Tax, it owes it to the Sales tax collecting authority. Sales tax that has been collected but not paid to the Sales Tax collecting authority should be carried on the books as a liability.