0
The sales tax for items you receive a commission on is typically paid by the buyer at the point of sale. As a commission-based seller, you may be responsible for collecting the sales tax from the customer and then remitting it to the appropriate tax authority. However, the specific responsibilities can vary depending on the jurisdiction and the terms of the sales agreement. It's important to check local regulations to ensure compliance.
What else can I help you with?
What commission expense means?
Commission expense refers to the costs incurred by a business when it pays commissions to sales agents or brokers for facilitating sales or transactions. This expense is typically calculated as a percentage of the sales generated and is recorded in the income statement as a selling expense. Commission expenses are essential for incentivizing sales personnel and can significantly impact a company's profitability. Properly managing these expenses is crucial for maintaining healthy margins.
Sales tax is an example of?
Sales tax is an example of an indirect tax. This is taxes that a consumer pays to someone else and then that other person pays the taxes to the government.
Who do you contact when employer pays cash to employees and pays no taxes?
Contact your local wage and hour commission. Usually they are located at the employment office.
Difference between sales discount and sales allowance?
Sales Discount is given if the customer/client pays within a specified time. Example: if you pay your bill in the first 15 days you will receive a 1% discount, the full amount must be paid within 30 days. Terms: 1/15 n/30 Sales Allowanceis given if there is something wrong with the merchandise, or to show customer that you value their business. They both effect the net sales. Sales Discount is a contra Revenue account Subtracted from Sales Returns /Allowance to arrive at Net Sales. for more info feel free to contact me: Marcia Reidaxumaccounting@rogers.com 416-904-1714
Which tax is paid by the MOST people in the US?
Sales tax is probably the tax that effects most of the people. Sales tax is collected on most things that are purchased by the end user so most everyone pays sales tax all the time.
Who pays realtor commission in California?
50 States realtor commission paid by landlord
If a job pays 880 dollars and another job pays 790 dollars with 12 percent commission. Then how many items do you have to sell in the second job to have the same wage as the first?
The answer, in terms of how many items, depends on the price of each item.
What is the realtor's commission rate for pa?
A realtor's commission rate is always negotiable. The standard/usual rate is 3% for the buyer's agent and 3% for the seller's agent. The seller always pays the realtor's commission, unless otherwise negotiated in the sales contract of the home.
Is commission paid on net sales or net profit?
It's not typical in any industry that pays commission. To be clear, there is a different between gross profit and gross sales. Either way, paying commission on either is not the standard.Gross profit and gross sales implies a number beforing taking out sales taxes that a company must pay.Typically, commission is paid on net profit or net sales because the "sales person" because the company has to pay the taxes and the sales person had no bearing on these taxes.Look at it this way. When tipping (which is really like paying commission) a waiter/waitress, you should tip on the amount before taxes are added not after. Taxes are a product of the state laws, etc, not the business charging the taxes. The waiter has noting to do with something the state charges.
In a for sale by owner transaction, who pays the buyer's agent commission?
In a for sale by owner transaction, the seller typically pays the buyer's agent commission.
Who pays sale tax?
The person who is buying the product pays the sales tax.
Who pays commission to DSA in bank loans?
Respective Banks
Who have to pay sales tax in Oregon?
No one pays sales tax in Oregon.
Sales career how much they get paid per week?
Varies, dependent on the job. If the job pays by commission, then your pay is based on how much product you sell. If it's paid by salary, then it'll be whatever salary the company pays out, and that'll vary by company, specific position, experience, etc.
How much does Herb Dean the referee for the UFC makes?
Nevada Athletic commission pays $1200 per Pay-Per-View event. California Athletic commission pay $1000 per Pay-Per-View event. Each state commission has a different rate. Pay scale is based on event size from ticket sales.
What are use and sales taxe?
Sales tax is a tax paid to a business by another business or an individual when they buy something. For example, when someone buys groceries, they pay sales tax in addition to the purchase price. When businesses buy items that they do not directly use, but are involved in some way in doing business with their customers, they do not pay sales tax. If the item is sold, the customer pays sales tax. However, some businesses do not directly resell items they buy without paying sales tax on them. For example, a business that has service contracts would not charge their customer for the items provided as part of the service contracts. In that situation, the purchasing business pays a "use tax" on the items they purchase in order to deliver on the service contracts. The customer, who has the service contract, never sees a bill for the item(s) or the use tax paid for them.
Bob pays a 10 percent commission when he trades stock What would the commission be on the sale of stock worth 500.00?
50.00
