If you buy a new car, pickup truck, motorcycle or motor home in 2009 you could qualify for a new sales tax deduction, thanks to the stimulus law passed on February 17, 2009.
You just paid $35,640 for a car, including sales tax. The sales tax rate is 8%. What is the pre-tax price of the car?Pre-tax PriceWhen you buy a product, such as a bottle of soda, the price paid is usually inclusive of the taxes su...
Suppose that the local sales tax rate is 4% and you purchase a car for $13,600. a. How much tax is paid? b. What is the car's total cost?Relation between Cost, Tax, and Price of a Product:The total cost of a pro...
So far, their argument hasn’t held. In February, the comptroller’s office rejected Punjwani’s request for a refund on the sales tax she paid for a single box of tampons. They appealed this decision and requested a hearing. If that doesn’t work, Foyt said they plan to take this to...
area. (Exceptions are made for food, clothing and medical supplies — actual sales tax on these items is deductible even if you paid less than the general tax rate.) But for this method to work, you must have tracked all your purchases and sales taxes paid during the course of the year...
Do I Have to Collect Sales Tax on All the Sales I Make? Do states provide a list of what is and is not taxable in their state? I am visiting from another country. Can I get a refund of sales taxes paid? Is a sales tax return required even if my tax due is zero? What is ...
including the car sales tax. The second one is to use IRS sales tax tables. The tables calculate the estimated sales tax you paid based on your income, but they do not include big purchases like cars, boats, motorcycles, motor homes, and airplanes. So after calculating in the table, you...
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For example, if you're purchasing a product that costs $100 before tax and there is a 20% sales tax, the calculator will show you that the gross price of the product is $120, with $20 being the amount of tax paid. Conversely, if you paid $120 for an item and know that the tax...
The U.S. system with no VAT implies that tax is paid on the value of goods and margin at every stage of the production process. This would translate to a higher amount of total taxes paid, which is carried down to the end consumer in the form of higher costs for goods and services....