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Sales Tax
Sales tax is a consumption tax levied upon purchase of a particular service or goods. The taxable amount is determined after applying the percentage rate to the taxable price of the goods or service.
3,209 Questions
Linear taxes is the situation when the average tax rate is 20%. When this happens the tax rate will not increase with a higher income.
Cities and counties impose additional rates on top of the state rate (7.75% at the time of this post). See 'Sources and related links' below for the current rates by city.
You purchase a shirt for 8.50 there is 6 sale tax your total cost will be?
Your cost is $9.01. I get the same answer: 8.5 X 1.06 equals $9.01.
Do you have to pay sales tax when you buy a home?
No. Virtually everywhere real estate is not salestaxable.
There are frequently other taxes specifically tied to real property sales -generally geared to the transfer of the title, but they are much lower percentages than sales tax.
And you can expect some other fees again generally for recording paperwork or a specific charge - but also normally modest.
What is the sales tax in Stevens county WA?
The sales tax in sevens county WA was 7.6% at the time of this post. 'Sources and related links' below has the most recent rate.
This is typcially the coverage you buy from a rental car company it is collision and comprehensive coverage for the vehicle you have rented, and most of these contracts I have seen still have a deductible although the wording implies different, check the contract over good...
First, the term is "excise tax". As many tax terms, it can be defined or used by many in different ways. Generally, it is a tax, imposed by the Feds or a State or other jurisdiction on the manufacture (or sometimes import or use) of a product,. Generally to a class of an item, and generally again, because of a relevant connection between the item and what the tax funds...or finally it can be used to balance trade and costs in an international setting. So, vehicle tires are subject to an excise tax - by the Dept. of Transportation, to help fund the roads and infrastructure they use. Many States now impose an excise tax on products that take an especially heavy toll on the environment and disposal system, as an environmental tax. Telephone services are subject to many, some for assuring equal access and to improve the infrastucture again. Etc. In some cases the manufacturer pays it as an operating cost and includes it in the price of his goods, in others it may be handled by the retailer and is stated on the bill.
Do oregonians have to pay sales tax in other states?
The state requires the seller to charge the tax, and as the sale occurs at the sellers location, the tax is due regardless of where the buyer resides.
Depending on the state, and its laws, sales taxes are waived on a sale of an item which will be resold by the buyer, IF the buyer has a sales tax permit and will be collecting and paying sales tax proceeds to a state taxing authority.
This is my experience. I have lived in Oregon the majority of my life, with some time in Alaska, Washington, Texas, Illinois, and Virginia. The ONLY state I have ever had sales tax waived was in stores in Washington. If you are buying a non-consumable product, like a TV, CD, clothing, or such, you can show your Oregon ID without paying tax. If you eat there (restaurant) or have a service done, you pay tax, whether you live there or not. When I lived in other states, like Alaska and Illinois, I let it be known I was from out of state, but I always had to pay sales tax. So given this, if you are in a store outside Oregon, not counting the Washington exception, you will more than likely pay sales tax. It never hurts ask for a waiver, but they don't have to.
Give reasons for why should we pay tax to the state government?
to maintain the public works done by the state run coparation.eg street lights,waste dispossal,sanitation and other public works including public transport. Taxes pay for roads, schools, police & fire departments, water treatment, trash removal, health departments, and things like public safety, public parks, and flood control.
If a retailer pays PA sales tax but has a delivery to New York what tax does he pay?
Pays no tax for the NY delivery if purchased online
Actually the method used for placing the sale makes no difference. Where the sale occurs determines where it is taxed and where it is used determines when it isn't taxed on sale. (All States have a required USE tax component to their tax laws).
If the retailer is lisc. to collect tax in the jurisdiction that the item is delivered to, then he must collect tax for that jurisdiction. Regardless of how the sale is made. (The "moritorium" on internet taxes I suspect the previous is confused by, is only for State s making NEW taxes on internet services...sales taxes on other products aren't new, the system for it well established with things like mail order and then phones
If the retailer isn't licensed (normally because they don't have the legal "nexus" - that is connection) - with that jurisdiction, then THEY CAN NOT collect the tax for it. If the sale was sent to NY by a common carrier and title only changed when it was delivered, than no tax (or the NY tax) is charged. No PA sale occured, so no PA tax is to be charged, regardless. If it was shipped on a company truck or after title passed, than PA tax must be charged (because the sale happend in PA, just like if you were in the store and bought it and put it in your own car and drove to NY. The buyer can get a tax credit for that tax on the NY USE TAX they must file and pay.
Taxes are not generally withheld from the proceeds of stock sales, (unless you are subject to backup withholding). A report of the total amount of the sale (not the amount of the gain or loss) is made to the IRS on a form 1099 and that must be accounted for on your return. Stock sales are generally considered a sale of a capital asset and qualify for capital gains taxation. Presuming you meet the qualifications and have owned the stock for 1 year, the Capital gains tax is 15%. if you had it for a shorter period, it will be taxed at your otherwise ordinary tax rate. (BTW, if you aren't already above the lower ordinary tax bracket...still in the 15% ordinary tax bracket...the Long Term Gain rate is only 5%).
You inherited a house and sold it what is the tax?
I'm not an attorney, and you should get professional advice. But from my reading, you might owe a capital gains tax on any increased value of the house from the time of its purchase by the person from whom you inherited it. This would be true if you got the house through a Will. However, if that person created a trust and put the title of the house in the name of the trust, you do not owe capital gains tax on any past increase in value.
Yes! the reason is because taxes have to be assessed for the value of the vehicle for registration purposes
Does gross sales include tips?
Gross sales does not include tips, only money directly from sales. However, total gross receipts does include tips, usually figured to be about 8 percent or the total.
What is sales tax in Orange County N.C.?
Orange County sales tax as of October 2008 is 6.75%
The NC Sales Tax is a 2-parter, state and county. The current state rate is 4.25%, while the county rate is 2.5% for 91 of the 100 counties in NC.
Here's a link to all the NC county tax rates.
http://www.dornc.com/taxes/sales/salesrates.html
Typically sales tax is paid at the point of sale, hence the name. But depending on the state there are exceptions. If you buy goods from outside the state, and do not pay sales tax (internet sales!), you need to remit sales tax to your state. Most of the state income tax forms have a method provided for paying sales tax along with the state income tax.
What is the tax percent of Grand Caillou LA?
The state sales tax is 4 percent and the parish sales tax is 4.5 percent for a total of 8.5 percent for Grand Caillou, LA which is also called Dulac in Terrebonne Parish,LA. See 'Sources and related links' below for any updates to this rate since the time of this post..
What is the sales tax rate for Cuyahoga County Ohio?
As of July 2007, it is 7.5%.
As of October 2008 the sales tax was increased .25%, currently this remains in effect. Tax rates are 7.75% still in Nov 2009.
Some believe: "No, you wont have to pay sales tax in your home state." This is not accurate. ==Caveat== Caution, most states have "use taxes" that apply to expensive items, such as boats and cars. If you purchase a car in New Hampshire, for instance, they will normally hit you with the "use tax" in your home state when you go to register the vehicle. Official sources tell me: In many states (MA, CT, NY, ME, VT...), the "sales and use" tax requires that you either pay sales taxes when you purchase an item that would be taxable in your home state, or you pay "use" tax when and if you bring the item home. Furthermore, anyone ordering online or by mail, or having an in-person purchase shipped home, must pay sales or use tax on anything taxable that is sent to them. Any tax you paid when you bought it acts like a credit, so if your state charges 8 percent (Vermont) and you live in Massachusetts (5 percent), you only owe 3 percent to the state when you bring the merchandise to Vermont. The Connecticut DOR person I spoke with says they occasionally prosecute a few people, hold a big press conference, and then watch as thousands of checks come in from other people who don't want to go to jail for failure to pay sales or use taxes on their out-of-state purchases.
What states do not require residents to pay a state income tax?
Alaska, Florida, Nevada, S.Dakota, Texas, Washington, and Wyoming. New Hampshire and Tennessee only tax dividend and interest income. Does that help you? Good luck.
You will need to get a Vendors Permit number from the Ontario Ministry of Finance. You can then provide an exemption certificate to the supplier of the goods. If you would like to be able to claim GST back, you will have to register for a business number and GST account with the Canada Revenue Agency.
a point of sale is the place where the sales-transaction (the exchange of goods/services for money, etc) occurs. can be virtually anywhere but depends on goods/services being offered.
Should Accrued expenses be exclusive of GST goods and service tax?
Yes, they should be exclusive of GST, as you would be overstating your expenses and understating GST paid.
