No.
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Sales tax
debit accounts receivabledebit sales taxcredit sales revenue
No, net sales do not include tax. It is the total amount of company sales after the deduction of returns, damaged goods and any discounts.
Yes, in states which have a sales tax, it is a very important source of revenue.
combind revenue accounts
No. Shipping is not to be included when calculating sales tax.
Yes, sales tax is typically rounded up when calculating the total cost of a purchase.
sales tax
Sales tax
Yes, it is customary to include the tax amount when calculating your tip at restaurants.
debit accounts receivablecredit sales tax payablecredit sales discountcredit sales revenue
Sales Tax is imposed by State and Local government. Sales tax provides around 11 percent of state tax revenue (on average).
State Revenue Office
sales tax A+
Individual Income Tax and Sales Tax
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