Is current use tax tax deductible?
Well yes and no. Under a recent change in the tax laws, sales or use taxes are deductible under certain rules IF you elect to, and beneficial if they are more than the State income taxes. This equalizes the deductible State taxes for those living places that have no (or small) income taxes.
If sales tax is 8 percent how much tax would there be on a purchase of 27 dollars and 57 cents?
If using a Windows computer, click on the start menu, go to Programs, then Accessories, and click on the calculator. Then enter 27.57 x .08
That's the amount of sales tax.
Then you can add that result to 27.57 to get your grand total.
Do car auctions charge sales tax?
No the auctual auction does not charge tax, they get a fee of the total price, but once a dealer sells that car that dealer has to pay taxes on that vehicle.
How can you find the sales tax amount from the total including tax?
Tax = Total Amount - (Total Amount / (1 + Tax Rate))
Example: Total including tax is $2.14 and the tax rate is 7% (0.07).
The base amount -- or purchase price -- is $2.14 divided by 1.07, or $2.00.
The tax is 2.14 - (2.14/1.07) = $0.14
The total tax is $5.15 and the total price with tax is $67.59
Till changed by act of law.
Are sales taxes included in a capital lease?
http://wiki.answers.com/Q/Are_sales_taxes_included_in_a_capital_lease"
What is the sales tax in Tucson?
Look in 'Sources and related links' below for the current rate. It was 9.1% at the time of this post.
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.
New Orleans LA sales tax rate?
It is presently 9% - 4% + 5% for parish and state sales tax rates combined.
Do you have to pay tax on a even trade?
Do I pay sales tax on even trade? a motocycle for a boat same value in Massachusetts .
It's quite simple. Whether your doing a Formal or Informal Proposal, here is an example of what you need to include in your proposal: * Original Retail Value * Wholesale Price * Description of the Product * Shipping Fees * What is your City's Current Tax % * Discounts Given / Coupons * All fees associated with the sale * Payment Terms: On Demand or Net 30/60/90/120 Days * Payment Methods You Accept: T/T, Cash, Credit Card, Money Order, Cashier's Check, etc... * Return Policy (If Applicable) * Any additional terms... Essentially, you need to outline all of your terms. No surprises. This way, your buyer will know exactly what to expect. Plus, your customer can rebuttal and/or negotiate for better terms, if need be. This is the art of business!
take 1.93 times 3 yards, (5.79) then take that times 1.05 for the sales tax and the total cost is 6.08 dollars.
Does Massachusetts have a sales tax?
As of August 1, 2009, the sales tax rate in the Commonwealth of Massachusetts is 6.25%.
If a fuel surcharge is passed on to the customer does state sales tax apply?
Fuel surcharges are becoming more common due to increasing gasoline prices. The
taxability of a fuel surcharge follows the taxability of the service provided or the product
sold.
(1) Sales price is the measure subject to sales tax and means the total amount of
consideration, including cash, credit, property, and services, for which personal property
or services are sold, leased, or rented, valued in money, whether received
in money or otherwise, without any deduction for the following:
(A) The seller's cost of the property sold;
(B) The cost of materials used, labor or service cost, interest, losses, all costs of
transportation to the seller, all taxes imposed on the seller, and any other expense of the
seller;...
The retail sale of motor fuels such as gasoline is exempt from sales tax. Thus, when
purchased by the seller of services or property, gasoline is not subject to sales tax.
However, a separately stated fuel surcharge is an expense that a seller incurs in order to
perform a service or sell a product. The taxability of a fuel surcharge follows the
taxability of the service provided or the product sold. Thus, if the transaction is for a
service or product that is not subject to sales tax, then the fuel surcharge is also not
subject to tax. If the transaction is for a service or product that is subject to sales tax, then
the fuel surcharge is subject to tax.
Example:
• A landscaper performs a taxable mowing service at a customer's location. He
charges a separately stated "fuel surcharge" on the bill provided to the customer.
When this expense is passed along to the customer, it becomes part of the sales
price, regardless of whether it is included in a lump-sum charge for the mowing
service or separately itemized to the customer, because it is part of the
landscaper's overhead cost to perform the taxable service. Therefore, since the
service is taxable, the fuel surcharge is also taxable.
• A contractor installs a new roof at a customer's location. This installation is a
nontaxable service because it results in an exempt capital improvement. He
charges a separately stated "fuel surcharge" on the bill provided to the customer.
When this expense is passed along to the customer, it becomes part of the sales
price, regardless of whether it is included in a lump-sum charge for the
installation service or separately itemized to the customer, because it is part of the
contractor's overhead cost to perform the nontaxable installation service.
Therefore, since the service is not subject to sales tax, the fuel surcharge is also
not subject to tax.