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What is tax on an item called?

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Anonymous

9y ago
Updated: 8/21/2019

Tax

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Wiki User

9y ago

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Related Questions

How do you find the total cost of a item with tax?

First you calculate the amount of the tax on the item. Then you add together the original cost of the item and the tax.


If you sold an item for 20.00 and included sales tax and your sales tax rate is 7.3 what was the item price before sales tax?

The easiest way to understand the answer is to turn it around. If you wanted to calculate the item price plus tax, you would multiply the item price by 1.073. So, to back up to the item price from the item price plus tax, divide the item price plus tax by 1.073. $20.00 / 1.073 = item price before sales tax.


What is it called when tax is already on a item such as gas an tobacco?

When tax is already included in the price of an item such as gas or tobacco, it is referred to as an "inclusive tax." This means the tax amount is embedded in the total price consumers pay at the point of sale, rather than being added on separately. In some contexts, it may also be called "excise tax," which is a specific type of tax imposed on certain goods.


What is tax of an item?

The tax of an item is the money that goes to the poor. Depending on where you live, if your government or president is rich, then the tax amount is bigger. If the government is poor, than there is a low amount of tax on an item.


When you purchase an item from a retail store the tax you pay to the retailer on the item you purchase is an example of which type of tax?

indirect tax A+


Which type of tax is calculated on per item basis?

An excise tax or sales tax is calculated on a per-item basis


Which type of tax is calculated on a per-item basis?

An excise tax or sales tax is calculated on a per-item basis


There is a sales tax of 10 on an item that costs 101 before tax A second item costs 131.30 before tax What is the sales tax on the second item?

131.3 x 10 / 101 = 13


An item is priced at 13.31 If the sales tax is 8 percent what does the item cost including sales tax?

The total tax is $1.06 and the total price with tax is $14.37


How can you determine the total cost of an item including tax if you know the price of the item and the tax rate?

To determine the total cost of an item including tax, first convert the tax rate from a percentage to a decimal by dividing it by 100. Then, multiply the item's price by this decimal to calculate the tax amount. Finally, add the tax amount to the original price of the item to find the total cost. The formula can be summarized as: Total Cost = Price + (Price × Tax Rate).


The final cost of an item was 50 This included 6 percent sales tax What was the price of the item before tax?

The total tax is $2.83 and the price before tax was $47.17.


What is the sale tax of an item that is 2000 dollars?

Sales tax varies from place to place. You need to identify what the sales tax is in the area where you are selling the item