A sales tax is a tax that is put on items when they are purchased by the consumer. It is collected as a percentage of the price. Most states have a sales tax, as do many counties and cities, which can increase the total levied to 10% or higher. Often the tax on food and medicine will be lower, either by statute or because the state restricts additional local taxes.
Laws vary governing the collection of sales tax for interstate purchases or internet sales. Some states discourage interstate purchases by levying "use" taxes for items purchased out-of-state for use in-state by its residents. For the same reason, vehicle registrations can also collect fees to recoup any avoided sales tax.
Roughly an addition of 5 to 7 % of your agreed upon purchase price of the vehicle that the state and local community receives.
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.