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The SALES tax is usually a percentage that is added to the cost of an item at the cash register at the time of checkout that is collected at the store and turned over to the state and local governing bodies to help pay the cost of some of the services that they are providing to the citizens of the areas that the sales tax are collected for.
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What are the four taxes that our governments collect?
Sales tax Income tax Property tax Inflation tax Inheritance tax Poll tax Social Security tax Tariff tax Wealth Tax Financial transaction tax Expatriation tax Currency transfer tax Environmental tax Capital gains tax Bank tax
What is the tax for California?
There are all sorts of taxes in California: income tax sales tax property tax cigarette tax liquor tax estate tax gambling tax and hundreds of others.
Is wealth tax a direct tax or indirect tax?
direct tax
A tax on perfume is what kind of tax?
A tax on perfume is an excise tax. An excise tax is an in-country, or inland, tax on a specific good produced for sale. If the tax is on the perfume as it is imported, it is a customs duty or border tax.
How do you find the tax rate if you have the pre tax and after tax profit?
After Tax Profit = Pretax Profit * (1 - Tax Rate) Solve for Tax Rate Tax Rate = 1 - (After Tax Profit/Pretax Profit)
What tax is not a direct tax?
sales tax
Is toll tax direct OR indirect tax?
Toll tax is a direct tax
Is city tax local tax?
Yes, city tax is local tax.
How do you convert after-tax salary to before-tax salary?
Divide your post tax income by your effective tax rate %. (After tax)/(effective tax rate %) = Before tax income Your effective tax rate is your tax amount divided by your taxable income (net any deductions). (tax paid in $ + tax bill/refund)/(income - deductions $)
How do you claim for foreign tax credit?
The tax must be imposed on you You must have paid or accrued the tax The tax must be the legal and actual foreign tax liability The tax must be an income tax (or a tax in lieu of an income tax) Tax Must Be Imposed on You You must use form 1116 to file.
What states have a state tax required?
Every state has some sort of state tax required, whether it is a sales tax, an income tax, a property tax, an excise tax, a corporate tax, or some other kind of tax.
