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Sales tax directly reduces consumers buying power. When sales taxes are high, consumers are forced to spend more money on taxes and less to spend on other items.
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∙ 9y ago
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Do consumers from Illinois pay sales tax on shipping?
No. Shipping is not to be included when calculating sales tax.
disadvatage of sales tax?
A sales tax is a certain percentage of tax imposed by the government on the sales of goods and services. As per the law, a seller can collect some amount of sales tax from the consumers they are selling goods and services to. The sales tax does not produce any revenue to the seller. However, a seller is responsible to collect sales tax from consumers and pass it to the official authorities.
What do consumers pay for sales tax in California?
7.25 to 9.75% depending on state and local sales tax.
Which tax is paid by the MOST people in the US?
Sales tax is probably the tax that effects most of the people. Sales tax is collected on most things that are purchased by the end user so most everyone pays sales tax all the time.
Difference between Excise tax and sales tax?
Sales tax is what consumers normally pay for, or are charged for a good/ service; and excise tax is the "hidden" tax that the producers or sellers pay for. Sales tax is listed separately. Sometimes producers and sellers include the value of the excise tax within the goods or service as an " indirect tax". So that means, theoretically, sometimes consumers are being taxed twice for the price. You can find more info about sales tax and excise tax at the B.L.S. or the Federal Bureau of Labor and Stats...
How do state governments tax consumers and vendors?
A primary way state governments tax consumers is with a sales tax. Vendors don't pay this tax on the goods they sell but they collect it from customers. They also use income tax and property tax but these are not consumption taxes
What is inderect tax?
A tax, such as a sales tax or value-added tax, that is levied on goods or services rather than individuals and is ultimately paid by consumers in the form of higher prices.
Considering tax incidence explain why some states do not charge sales tax for basic food items?
To reduce the cost of the necessary food to the consumers that have to purchase it.
What tax is paid by businesses only?
sales tax sales tax!
A tax on things you by?
Sales tax, of course.
How do you Gross up sales tax?
Sales Tax / Sales Tax Rate = Gross Sale
Juan's purchase before sales tax was added totaled 46.00 The total including tax was 48.76 What was the sales tax rate?
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%.
