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Sales Tax?
A business that sells products at retail will be required to collect sales tax from buyers and pay it to the state tax department. Sales tax is also collected in some cases on items offered for rent. Sales tax can also be collected by city and county governments. The federal government has never collected a sales tax by name, although it has imposed excise and use taxes throughout national history. Generally, businesses that sell only wholesale goods will not be collecting sales tax. Also, sales tax need only be collected on sales made within the state where the seller has a location. Remote sales by out of state sellers are not subject to sales tax. Furthermore, in most states, certain items are exempted in whole or in part from sales tax. Food purchased at a grocery store for home consumption, for example, is exempted from sales tax in many states, although more and more, states are imposing a progressive sales tax rate even on grocery food. There are also certain types of tax which resemble sales tax in their application and effect, but which are technically not sales taxes. These include excise taxes, imposed on a narrow range of items, including gasoline, liquor, and rental cars; use tax, intended for imposition on users of goods purchased without sales tax, such as from out of state; and securities turnover excise tax, imposed on the sale of securities. A business must be licensed or authorized to collect sales tax. Sales tax permits are issued by a state agency, such as the Department of Revenue or another similar agency. Cities may also issues sales tax licenses.
What is a selective sales tax?
This is a sales tax on specific items, such as cigarettes or alcoholic beverages. These may also be referred to as "sin taxes", under the conservative Christian belief that smoking and drinking are improper vices.
What is the difference between direct unit cost and direct cost of sales?
Let's say that you are in the business of selling widgets. All the costs related to manufactureing, storing and selling one widget (referred to as a unit) would be the direct unit costs. Your direct cost of sales (also referred to as direct cost of goods or direct COGS) are all the costs related to the creation of your widgets. Your direct cost of sales may or may not be your total cost of sales. Usually this includes the cost of materials and direct labor costs, but excludes distribution and sales (the cost of getting your widgets to a retailer and get them sold).
How do you calculate sales revenue knowing margin and cost of goods?
IF cost of goods is available and margin is also provided then sales can be calculated as follows: Sales = Cost of goods / margin of sales
Why would i pick State and local income tax deduction?
You generally want to take the higher of your state/local income taxes paid for the year, or the sales tax deduction. Which one of the two is higher is different for each person. The American Jobs Creation Act of 2004 gives taxpayers the option to claim state and local sales taxes instead of state and local income taxes when they itemize deductions. This option is available for the 2004 and 2005 returns only. IRS Publication 600, Optional State Sales Tax Tables, helps taxpayers determine their sales tax deduction amount in lieu of saving their receipts throughout the year. Taxpayers use their income level and number of exemptions to find the sales tax amount for their state. The table instructions explain how to add an amount for local sales taxes if appropriate. Taxpayers also may add to the table amount any sales taxes paid on: * A motor vehicle, but only up to the amount of tax paid at the general sales tax rate; and * An aircraft, boat, home (including mobile or prefabricated), or home building materials, if the tax rate is the same as the general sales tax rate. For example, the State of Washington has a motor vehicle sales tax of 0.3 percent in addition to the state and local sales tax. A Washington state resident who purchased a new car could add the tax paid at the general sales tax rate to the table amount, but not the 0.3 percent motor vehicle sales tax paid.
What is the common definition of outside sales?
Outside sales are also commonly referred to as traditional sales. These sales are conducted face-to-face. In contrast, inside sales (such as telemarketing sales) are completed without face-to-face contact.
Is there such a rank as a major general?
Yes. Major General is also referred to as a "two star" General, for their rank insignia of two stars.
What are the two leading sources of state tax revenue?
the sources of public revenue is tax from citizen also the government can take loans from foreign governments public revenue can also be generated from goodwills to the government and also through international trade.
Sales Tax?
A business that sells products at retail will be required to collect sales tax from buyers and pay it to the state tax department. Sales tax is also collected in some cases on items offered for rent. Sales tax can also be collected by city and county governments. The federal government has never collected a sales tax by name, although it has imposed excise and use taxes throughout national history. Generally, businesses that sell only wholesale goods will not be collecting sales tax. Also, sales tax need only be collected on sales made within the state where the seller has a location. Remote sales by out of state sellers are not subject to sales tax. Furthermore, in most states, certain items are exempted in whole or in part from sales tax. Food purchased at a grocery store for home consumption, for example, is exempted from sales tax in many states, although more and more, states are imposing a progressive sales tax rate even on grocery food. There are also certain types of tax which resemble sales tax in their application and effect, but which are technically not sales taxes. These include excise taxes, imposed on a narrow range of items, including gasoline, liquor, and rental cars; use tax, intended for imposition on users of goods purchased without sales tax, such as from out of state; and securities turnover excise tax, imposed on the sale of securities. A business must be licensed or authorized to collect sales tax. Sales tax permits are issued by a state agency, such as the Department of Revenue or another similar agency. Cities may also issues sales tax licenses.
Is there sales tax to consumer on Gasoline?
If you live in the US, then yes.The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. On average, as of January 2015, state and local taxes add 30.1 cents to gasoline and 30.1 cents to diesel, for a total US average fuel tax of 48.5 cents per gallon for gas and 54.5 cents per gallon for diesel.---------------------------------------------The answer above is wrong (and probably a cut and paste from an online encyclopedia, as I edited out footnote reference numbers and the original answer did not include any footnotes).The US Federal excise on Gasoline as a motor fuel for use in vehicles driven on public highways is NOT a sales tax. The money collected by a sales tax goes into the General Fund and can be used for any purpose, the money collected by this excise tax goes into a special Federal Highway fund and by law can only be used for highway construction or highway maintenance purposes. Also this excise tax is not charged on all gasoline sold to consumers as a sales tax would be: consumers that buy gasoline for nonmotor vehicle uses (e.g. Coleman lanterns and camp stoves) or for use in motor vehicles that do not use public highways (e.g. farm machinery), the gasoline they buy is exempt from this excise tax. Some people do not know that gasoline lawn mowers also qualify for the purchase of gasoline without the payment of this excise tax, and just buy the same gas as they do for their cars.The only time there is a sales tax on gasoline purchases is when the gasoline is purchased within the jurisdiction of a state, county, or municipality that charges sales tax, and this sales tax is identical to the sales tax on all other purchases made in that jurisdiction.Here in Montana there is no sales tax and never has been a sales tax, so consumers pay no sales tax on gasoline.
What is network marketing?
Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant's "downline", and can provide multiple levels of compensation. This is known as a network marketing also.
How do you say excise in spanish?
consumo = excise tax(noun) sisa (noun) (it also means 'petty theft'!) cortar = cut (verb) imponer consumos sobre = impose excise tax on (verbal phrase)
What taxes are in South Dakota?
South Dakota's base State Sales and Use Tax Rate is 4% + Municipal Tax.Sioux Falls has a Municipal Tax (General Sales and Use Tax) Rate of 2% for a total Sales and Use Tax Rate of 6%.Sioux Falls also has a 1% Gross Receipts Tax on alcoholic beverages, eating establishments, lodging accommodations, admissions to places of amusement, and athletic and cultural events, making a total tax of 7% on those items.
What are flurocarbons?
fluorocarbons is a general name for a class widely industrial solvent which is also sometimes referred to as perfluorocarbons
What is a selective sales tax?
This is a sales tax on specific items, such as cigarettes or alcoholic beverages. These may also be referred to as "sin taxes", under the conservative Christian belief that smoking and drinking are improper vices.
How do I Register an out of state car in Nebraska?
To register an out of state car in Nebraska you have to show proof of car insurance and receipt of sales and excise tax payment to the County Treasurer's office. You also need to pay any applicable fees for registrations.
What does kids do in recess?
kids can play with others at recess. they can get some excise also.
