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Does net sales include sales tax?
No, net sales do not include tax. It is the total amount of company sales after the deduction of returns, damaged goods and any discounts.
Is the value added tax deductible as a sales tax on federal income tax returns?
I don't believe that any state has VAT. To answer your question, no VAT is not deductible as Sales Tax on Schedule A of the 1040 Form.
Does net cost include sales tax?
Net cost does not include sales tax. The net cost of an item is the cost of the item after any discounts or returns and before any tax.
What general ledger accounts are affected and how by a sales returns and allowances transactions?
it affects the sales tax payable and the accounts receivable.
What is Long Island's sales tax?
Long Island, NY sales tax is 8.875%. For more sales tax rates visit: http://ny.rand.org/stats/govtfin/salestax.html
Vat and sales tax forms and returns of Assam?
The VAT and sales tax forms and returns of Assam are available for download on its official website. Forms are in PDF format.
Does net sales include sales tax?
No, net sales do not include tax. It is the total amount of company sales after the deduction of returns, damaged goods and any discounts.
Is the value added tax deductible as a sales tax on federal income tax returns?
I don't believe that any state has VAT. To answer your question, no VAT is not deductible as Sales Tax on Schedule A of the 1040 Form.
Does net cost include sales tax?
Net cost does not include sales tax. The net cost of an item is the cost of the item after any discounts or returns and before any tax.
What general ledger accounts are affected and how by a sales returns and allowances transactions?
it affects the sales tax payable and the accounts receivable.
What is Long Island's sales tax?
Long Island, NY sales tax is 8.875%. For more sales tax rates visit: http://ny.rand.org/stats/govtfin/salestax.html
How long can I be claimed as a dependent on my parents tax returns?
Dependent on tax teturns
How do you calculate gross sales?
NET SALES: Gross sales minus returns, discounts, and allowances. GROSS SALES: Total invoice value of sales, before deducting for customer discounts, allowances, or return.No. The sales tax is posted as a credit to the Sales Tax Payable Account. So, if you had a $100 sale plus $5 sales tax, you would debit cash $105, credit Sales $100 and credit Sales Tax Payable $5...
How much is long beach ca sales tax?
The current total local sales tax rate in Long Beach, CA is 9.0%
Is sales tax deductible from 2007 tax returns?
Sales tax is deductible as an itemized deduction (Schedule A), however you can deduct EITHER: -Sales Tax Paid -State income taxes paid Obviously you would want to deduct whichever is higher. This deduction can be very beneficial to people living in states that do not have an income tax, such as Florida.
Can itemized deductions on federal tax returns be taken for sales tax paid by Florida residents?
Yes. As an itemized deduction, you can claim either your state income tax withholding or claim a deduction for sales taxes paid. In states such as Florida which have no income tax, obviously your only option is to take a sales tax deduction. See the link below.
A server provided by e-government that requires access to the internet is?
E-tax returns
