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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
How do you calculate a 7 percent sales tax?
Take your order price times .007. That's the sales tax for that order. but take tax before shipping cost.
The sales tax is a tax upon commerce, or the buying and selling of goods. It is imposed by national and local governments to pay for certain public needs.
GST stands for Goods and Services Tax. It is basically a consumption tax that is imposed on goods and services.
What is economic value added EVA?
Economic Value Added is the value added by management to the capital provided by shareholders. It is a period value. EVA is defined as net operating profit after tax less a capital charge reflecting the firm's cost of capital.
For instance, assume a company has net operating profits after taxes of $1,000,000 for the year, Net Capital of $500,000 and cost of capital of 12%. The capital charge would be determined by multiplying the cost of capital times the net capital - in this case 12% times $500,000 for a capital charge of $60,000.
The charge would be deducted from the net operating profits after taxes after taxes - $1,000,000 - $60,000. Therefore, the EVA for that year would be $940,000.
What is the sales tax rate for Federal Way Washington?
These figures are effective January 1-March 1, 2009. They are courtesy of the Department of Revenue. Use the below link for the most up-to-date sales tax rates.
.025% city + .065% state = .090% total tax rate
How do you calculate Economic Value Added?
This is can be solved in different ways: The simple one is MVA the market value added which is Market value capital - Caplital investment. Another way is derive the economic values of revenue and cost items. That mean you don't deal with actual market value but you need some to convert these values into their economic or efficiency ones.
Which is an example of a sales tax?
Sales taxes are a tax placed on a finished product. Sales taxes are generally exempt on raw materials or even on parts or materials that go into a product. The sales tax is owed on the finished product so that it will be at the highest amount. For instance, a company will not pay sales tax when they purchase steel to form the outside of a icebox, compressors imported to go into the icebox, the racks made in a nearby plant, or the plastic for interiors of the icebox. They are then all assembled and sold to retailers all over the country and no sales tax is paid on these sales. The final sale when you purchase it at the retail establishment is when the sales tax is calculated and paid.
How do you figure the original price if you know the total price and the sales tax rate?
Suppose the selling price or total price of some product is $ 87 and the prevailing tax rate is 30%
you can find out the amount of tax charge by following formula
87*30/130= 20.1
now the original amount would be equal to $87-20.1= 66.9
Proof of calculation:
66.9 * 30/100 = 20.1
66.9+20.1= $87
The price of a new car is 14800 and the sales tax is 6.5 percent. What is the total cost of the car?
14,800 + (14,800 * .065) = 15,762
What type of tax is a sales tax?
The sales tax is an indirect tax, because it is collected by the seller and then paid to the government.
(The labeling of the sales tax as "regressive" means that it is seen to unfairly impact the lowest economic groups through their purchase of necessities. Many states and cities exempt food and/or prescription drugs from some sales taxes.)
How does the UK tax system different from the Sierra Leone tax system?
briefly explain the tax system of Sierra Leone
$1500×1.05=$1575.
How is sales tax calculated on a used car purchased from an individual in Mississippi?
Sales tax is determined by a value set by the state for used cars from individuals. It makes no difference if you have a Bill of Sale for $1 on a car or whatever it sold for, they look up it's "value" and use that value (a lot less than actual or NADA) to compute the tax ?
This tax is exempt from purchases or transfers to or from family. I don't know the extended family details for this. Even a free transfer is taxed at this "value", so if I gave you my new Suburban, you would have to pay tax on the "value" unless you are family.
Dealer sales are taxed at the value of the invoice from the dealer, in or out of state.
Where do you find a bill of sale?
State approved motor vehicle bill of sale forms can be obtained at your
local tag office. If your state doesn't issue a state approved bill of sale
you can find a sufficient motor vehicle bill of sale form at the link provided below.
Do you have to pay sales tax when purchasing a used car from a private party seller in Texas?
Absolutely, although the process is slightly different than in a normal transaction in it is collected when you register or title the vehicle.
If the amount you claim the purchase was for is different than the "Presumptive" amount that the state has determined its value as, you will be charged the higher amount.
The above is true in virtually all states.
http://www.window.state.tx.us/taxinfo/mtr_veh/faqmoveh.html
What is the Sales tax on a car bought in CA?
The sales tax on a car purchase will not only be based on the state sales tax, but also the county in which you reside.The easiest way to find out the exact sales tax that you will pay is to call a dealer in the county where you live.
What is the sales tax on cars in Summit County Ohio?
The current total local sales tax rate in Summit County, OH is 6.75%
