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What is sales tax?

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infotaxsquare
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What is sales tax?  Reply with quote  

Sales tax is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. In other words a sales tax is a tax on the end-purchase of a good, so it normally does not apply if a sale is for re-sale or for subsequent processing. Sales tax normally a certain percentage that is added onto the price of a good or service that is purchased.

Your sales tax responsibilities as a new business owner, whether you start a business or buy an existing business, will vary depending on the type of organization or entity you operate. Besides state level, estimation of sales tax is also done on municipal or county levels. Payment of state sales tax depends on your sales and your state's regulations.

Normally it is the consumers who are burdened with sales tax. The re-sellers on the other hand, are exempted from sales tax, provided they do not use the goods on which sales tax is levied.
Post Mon Mar 29, 2010 5:52 pm
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Elmira Nancy
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Thank you for sharing the information. Please keep sharing more and more.

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Post Fri Apr 02, 2010 6:42 pm
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john milton
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The tax amount is percentage rate to the taxable price of a sale. A portion of the sale may be exempt from the calculation of tax, because sales tax laws usually contain a list of exemptions. Laws governing the tax may require it to be included in the price (tax-inclusive) or added to the price at the point of sale.

Most sales taxes are collected from the buyer by the seller, who remits the tax to a government agency. The economic burden of the tax usually falls on the purchaser, but in some circumstances may fall on the seller. Sales taxes are commonly charged on sales of goods, but many sales taxes are also charged on sales of services. Ideally, a sales tax would have a high compliance rate, be difficult to avoid, and be simple to calculate and collect.
Post Fri Apr 16, 2010 8:19 am
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ed2009
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I think California has the highest sales tax in the nation. 9.5%

This State is the worst ive been of all the STates i have lived.

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Post Fri Apr 16, 2010 5:26 pm
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itmtra
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Thanks for share to sale taxes and suggestion.
Post Sat Sep 18, 2010 12:11 pm
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Hosannakk
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A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale. A portion of the sale may be exempt from the calculation of tax, because sales tax laws usually contain a list of exemptions. Laws governing the tax may require it to be included in the price (tax-inclusive) or added to the price at the point of sale.

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Post Mon Sep 20, 2010 7:16 pm
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jasikablack
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A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale. A portion of the sale may be exempt from the calculation of tax, because sales tax laws usually contain a list of exemptions. Laws governing the tax may require it to be included in the price (tax-inclusive) or added to the price at the point of sale,Central Sales tax is generally payable on the sale of all goods by a dealer in the course of inter-state Trade or commerce or, outside a State or, in the course of import into or, export from India.
Post Wed Oct 20, 2010 9:35 am
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LindaPH2010
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late taxes  Reply with quote  

Pay the taxes Every Month you don't want a penalty! Pay as early as you can.
Post Wed Oct 20, 2010 2:14 pm
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zalmalblaze
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Sales to purchase a few goods and services at the point of consumption is charged. And one percent on taxable sales price through the application of generally calculate the amount. May be part of the sales tax account is free, will the sales tax law generally consists of a number of tax. Laws related to price (tax included) need to be involved in or at the point of sale value can be added, and the central sales tax normally by an agent on the sale of all goods terms of a joint foreign trade paid to or commerce, or out of state.
Post Sat Dec 04, 2010 6:18 am
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financialculture
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A sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale. Laughing
Post Wed Dec 15, 2010 12:22 pm
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DanielTodaro
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The sales tax is applied on the sale of a commodity that is produced or imported and sold for the first time. If the product is sold subsequently without being further processed, is exempt from sales tax.
Post Thu Dec 30, 2010 6:05 am
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annuity
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Re: What is Sales Tax ?  Reply with quote  

VAT is the indirect tax on the consumption of the goods, paid by its original producers upon the change in goods or upon the transfer of the goods to its ultimate consumers. It is based on the value of the goods, added by the transferor. It is the tax in relation to the difference of the value added by the transferor and not just a profit.

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Post Fri Jun 10, 2011 8:07 am
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