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What is an example of a tax on consumption?
An example of a tax on consumption would be a sales tax. A sales tax is a tax paid for the sales of goods and services. A consumption tax, it is a tax on something used or "consumed." A sales tax is a good example. Europe has a value added tax which is the same idea.
What is the amount of sales tax on a 25,000 car?
The amount of sales tax on a 25,000 car depends on the sales tax rate in the specific location where the car is being purchased. If the sales tax rate is 8, the sales tax on a 25,000 car would be 2,000.
What is the sales tax rate in Topeka Kansas?
The sales tax rate for Topeka, KS is 8.95% and that is including the state of Kansas sales tax.
How can I legally ship out of state to avoid paying sales tax?
To legally ship out of state to avoid paying sales tax, you can purchase items in a state that does not charge sales tax or in a state where you are exempt from paying sales tax. However, it is important to comply with all relevant tax laws and regulations to avoid any legal issues.
What is the Illinois sales tax rate on a lease buyout?
The Illinois sales tax rate on a lease buyout is 6.25.
Do you pay sales tax on the msrp or price after rebates on a car?
You pay sales tax on whatever price is on the title application -- usually before the rebate. If you bought a $10,000 car and got a $1,000 rebate, you pay tax on $10,000 as opposed to $9,000.
When calculating sales for revenue do you include sales tax?
No.
Does net sales include sales tax?
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.
What is the new car tax rate for Texas?
The transfer tax (which is technically a sales tax) is 6.25%. It doesn't include the local sales tax.
Is commission applied before or after sales tax?
Commission would be apply to the sales price, which does not include tax.
Does net cost include sales tax?
Net cost does not include sales tax. The net cost of an item is the cost of the item after any discounts or returns and before any tax.
In new car sales, how much does sticker price generally vary from MSRP?
The MSRP or manufacturer's suggested retail price is the same as the 'sticker price' since MSRP is required to be displayed. It will include the 'base price' which is without additional options. 'Dealer invoice' is generally what the manufacturer charges.
Does a net sale include sales tax?
yes
What is a Brodmann PE 228 grand piano worth?
The Brodmann Model PE 228 Grand Piano has a MSRP of $39,970 (plus applicable sales tax) or € 29,990 (including sales tax) according to the Brodmann-Pianos website. To find more information on Brodmann Models.
Do sales on gmccom include sales tax?
Sales tax will be added to the initial sticker price when purchasing a GMC vehicle from a GMC dealer. The sales tax rate for a GMC vehicle will be based on the customer's state of residence.
In Mississippi, what is the sales tax?
The sales tax in MS is .07 or 7%, but this does not include the 3 1/2% for non-residential work
Does gross sales include sales tax?
No. The sales tax is posted as a credit to the Sales Tax Payable Account. So, if you had a $100 sale plus $5 sales tax, you would debit cash $105, credit Sales $100 and credit Sales Tax Payable $5 Sales taxes are a collection you make for the State. It is funds entrusted to you by the State to be paid over to them. They are not part of your sales or receipts. (Gross income will be sales less cost of sales. This is before selling, general, administrative, interest and tax expenses are taken out.)
