1 cent
6% sales tax
The total tax is $7.50 and the total price with tax is $157.50.
Virginia has a sales tax rate of 5.00%.
5.25%
Sales Tax / Sales Tax Rate = Gross Sale
The sale tex rate may 5.5%
The [unlikely] sales tax rate is 100*8/18250 = 0.0438% approx.
It varies by city in NY.
Yes when you a gain on the sale of a asset you will have to report the sale on your 1040 income tax return and could owe some income after your 1040 income tax return is completed correctly for the year of the sale. At the present time the long term capital gains tax rate on the sale of personal asset (nonbusiness asset) is from the -0- % rate to the maximum 15% rate on the amount of LTCG.
To calculate the net sale amount, you can first find the sales tax amount by dividing the total sale amount by 1 plus the sales tax rate. In this case, the net sale amount is calculated as follows: Net Sale Amount = Total Sale Amount / (1 + Sales Tax Rate) = 367.50 / (1 + 0.05) = 367.50 / 1.05 ≈ 350.00. Therefore, the net sale amount is approximately $350.00.
8%
The profit from the sale of the house (amount of sale minus the basis) will be taxed as income for the corporation, at their usual rate.