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If you have a discount-- does sales tax come after or before discount?
I think the discount comes first and then the sales tax.
How are a discount and a sales tax alike How are they different?
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.
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.
How do you find the discount and sales tax of a item?
To find the discount on an item, multiply the original price by the discount percentage (expressed as a decimal), then subtract that amount from the original price. For sales tax, multiply the original price (or the price after discount) by the sales tax rate (also as a decimal). Finally, add the sales tax to the discounted price to get the total cost.
What is the difference between tax and discount?
Tax is a mandatory financial charge imposed by the government on goods and services, which is added to the sale price and collected from the consumer. In contrast, a discount is a reduction in the price offered by a seller to encourage sales or reward customers. While tax increases the final cost for the buyer, a discount lowers it. Essentially, tax is a liability, whereas a discount is an incentive.
How are tax breaks and tax credits alike?
They both help to lessen the amount of tax owed
What is the price paid after discount is subtracted?
Tax
What is discount tax software?
Discount tax software is simply tax software sold at a lower price. There are also tax preparers such as H&R Block that offer free simple filing and other great discounts for a limited time.
What is a price paid after the discount is subtracted?
Tax
What comes first when you're solving discount or sales tax?
I think it's sales tax
Why must you first calculate a discount price on an item before calculating the total sales tax on the item?
The discount must be calculated first to get the base price of the item, then the tax percentage would be taken into consideration, otherwise you would be charging additional tax on an item which should be discounted in the first place. If you were to calculate tax first then the discount price, your total would be incorrect.
If there is a 24 percent discount on a tv that is 131 and the sale tax is 4 percent how much is the after tax total?
$ 103.54
