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Sales or use tax must be paid on tangible personal property sold at retail, as well as certain services and digital goods, depending on state law. This includes items like clothing, electronics, and furniture. Additionally, use tax applies to goods purchased out-of-state for use in the state where the buyer resides, ensuring that local businesses are not disadvantaged by out-of-state purchases. Exemptions may apply for certain categories, such as food or prescription drugs.
What else can I help you with?
What tax is paid by businesses only?
sales tax sales tax!
Need the answer why is sales tax a liability to a business?
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.
In Ohio who has to pay sales tax accelerated payments?
Accelerated payments are due from anyone in Ohio who collect more than $75,000 in sales tax per calendar year. The payments must be made by EFT, and 75 percent of the anticipated sales tax must be paid in advance.
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
Which kind of tax is paid when purchasing consumer goods and services?
sales tax
What's the percentage of sales tax for business that must be paid?
The percentage of sales tax that must be paid by businesses varies from state to state. Contact your state revenue department for more information.
What tax is paid by businesses only?
sales tax sales tax!
Need the answer why is sales tax a liability to a business?
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.
Do you pay sales tax if buying a new car from dealer in Oklahoma but living in Arkansas?
Sales tax should be paid where vehicle is registered
Where do you find out what you paid in sales tax on a used vehicle in Tennessee?
This information will be found on your Bill of Sale. It should show the vehicle purchased, VIN number, sales tax, and the total paid.
What is tax paid by customers?
sales tax
Is sales tax paid on an auto when it is sold person to person?
Yes it is. Sales tax is paid when you transfer the vehicle ownership.
In Ohio who has to pay sales tax accelerated payments?
Accelerated payments are due from anyone in Ohio who collect more than $75,000 in sales tax per calendar year. The payments must be made by EFT, and 75 percent of the anticipated sales tax must be paid in advance.
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
Which tax is paid most people in the us?
Sales tax.
Suppose that a local sales tax is 6% and you purchase a backpack for $24, how much tax is paid?
$1.44 tax paid
In a group of 60 children. 12 have brown eyes. What percent have brown eyes?
A sales tax of 5 and 3/4% is charged on a blouse priced at $42. How much sales tax must be paid
