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A discount and a sales tax both affect the final price of a product, but they do so in opposite ways. A discount reduces the initial price, allowing customers to pay less for an item, while a sales tax is an additional charge applied to the price, increasing the total cost. Both are calculated as percentages, but discounts are typically based on promotional offers, whereas sales tax is mandated by government regulations.
What else can I help you with?
After the 15 sales tax the jeans were 11.50 how much was the jeans before the sales price?
If the jeans cost $11.50 after the 15% sales tax, the cost of the jeans without sales tax is $10.00.
What do you pay in tax for a pair of jeans that are priced 50.00 if there is 7 percent sales tax?
The sales tax is $3.50 and the total price of the jeans with tax is $53.50
9 percent tax on a sales is an example of what type of tax?
excise tax
What is the sales tax rate in edina minnesota?
The current total local sales tax rate in Edina, MN is 7.275%.
What statement is a common argument against sales tax?
Regressive tax
If you have a discount-- does sales tax come after or before discount?
I think the discount comes first and then the sales tax.
Is The Seller Permitted A Discount For Timely Confirming And Paying Sales Tax?
Yes, a discount is permitted when the tax is compensated through the 20th day of the month where the tax arrives. The sales tax discount is 2% of tax due, to not exceed $50.
What comes first when you're solving discount or sales tax?
I think it's sales tax
How are Tax and Discount alike?
each is often expressed as a percentage
Journal entry for credit sale with discount and tax?
debit accounts receivablecredit sales tax payablecredit sales discountcredit sales revenue
How do you compute expanded withholding tax on sales of goods if there is discount?
compute nased on net sales
If a 65 dress is on sale for 20 percent and the sales tax is 7 percent what is the total purchase price?
The total price with the discount and sales tax is: $55.64
What is the difference between a discount sales tax and a tip in relation to the total cost?
A discount is money off a product, a sales tax is money added to the price of a product, and a tip is money given to someone fr good service.
Is discount revenue from state sales tax early payment taxable?
Yes, you collected it and didn't have to pay it...in the old days, it was called comission on sales tax collections
What is the journal entry for Sales Discount in quickbooks?
i just figured it out. So, I'll help you. Literrally, but had my search results up. Dr. Cash Dr. Sales Discount Cr. Tax Payable Cr. Sales Revenue Dr. = Cr.
If a pen costs 125.00 what would be the sales price if there were a 20 percent discount?
If there is no tax, $100.
If an item is on sale is the sales tax applied to the discounted price or the original price?
In most states, sales tax is applied to the final purchase price, thus the answer to this question would be the discount price.
