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1answer
3 views

Livining overseas and selling house question?

Couple of questions regarding selling my house. I live overseas and have done for 10 years now. I am looking to sell my property in Louisiana which has been a rental property. As I have not lived in ...
4
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0answers
78 views

What do codes “O”, “T”, “X”, and “N” mean on Wal-Mart receipts? [duplicate]

What do the four individual Walmart receipt codes of "O", "T", "X", and "N" denote?
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1answer
49 views

Paying taxes on a boat purchase in California as a Washington resident

It seems like there are two options when buying a boat in California as a non-resident: pay California sales/use tax pay a lawyer to perform an offshore delivery and pay sales/use tax in the state ...
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1answer
86 views

Why is sales tax collected again when selling a used vehicle (or any selling any item multiple times)? [closed]

Why is sales tax charged on a used vehicle purchased from an individual? When a vehicle is purchased new the sales tax is paid on it at that point. If I, as an individual, sell the vehicle later, I ...
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2answers
37 views

Is tax calculated on the final sale price of an item, or can it be deducted using the difference in two different prices?

Usually this sort of calculation doesn't make a huge difference, but occasionally there is a difference of about 1 cent or so. Let's say the sales tax is 8%, and the regular price of a taxable item ...
3
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1answer
253 views

Taxes: buy wedding ring in Oregon, but ship to California

I am planning to buy an expensive wedding ring in Oregon to save on sales tax, and ship it home to California to then propose to the long-term girlfriend. If I showed up at a jewelry shop in Oregon ...
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votes
2answers
683 views

Car lease payment went up after moving to new state

Recently, I moved to Kentucky from Ohio and my monthly auto lease payment with Chase Bank went up by about 8%. How is this possible if the tax difference between each state is only 0.5%? According to ...
3
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2answers
93 views

Charging sales tax for goods sold out of state?

Do I need to charge sales tax for goods sold in DC if I'm a florist based in Oregon (a no sales tax state)?
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0answers
46 views

Does Gross Margin exclude sales tax collected on “price includes sales tax” retail sales? [closed]

In a retail business that sells products where sales tax is included in the purchase price, should sales tax collected as part of the purchase price be included or excluded from Revenue in the (...
0
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1answer
194 views

Taxes on raffle winnings [closed]

If I win a car in a raffle then I have to pay taxes on it. What if, however, the raffle prize includes $20,000 along with the car (MSRP ~$105,000)? What's the story then? Will the cash cover the ...
3
votes
1answer
241 views

Sales Tax on Apps / Digital Goods in AppStore & GooglePlay, New York

I am trying to find if I need to charge sales tax with purchase of my app from the app store. I am in NY and most of my customers and buyers are from NY as well. I am not sure what NY regulations are ...
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2answers
115 views

Could somebody explain Wikipedia's VAT example calculation to me?

Wikipedia example here. I could not understand why in this example ("With a value-added tax" subsection) the government charges 0.10 = $1 × 10%, but not 0.11 = $1.1 × 10% The manufacturer spends (...
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2answers
452 views

I accidentally charged sales tax to a tax exempt client. Can I simply refund them?

I accidentally charged sales tax to a tax exempt client. I realized this as I was preparing to pay sales tax to the state. What's the correct procedure here? Do I simply send the accidentally ...
1
vote
1answer
298 views

Am I double taxed on a lease buyout?

I'm considering buying my car at the end of its lease. In looking at the paperwork, I paid the State of Illinois 7% sales tax on the entire negotiated value of the car, not just the portion I leased. ...
2
votes
2answers
628 views

Sales taxes on Groupons or LivingSocial coupons?

Say I buy a $10 Groupon that lets me buy $20 worth of food at a restaurant. I go to the restaurant and order items that add up precisely to $20 (based on the menu price). If the state sales tax is 6% (...
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2answers
187 views

How is tax avoidance on home purchasing avoided with Fair Tax implementation?

Under the proposed Fair Tax, we would no longer have an income tax and instead move to a federal sales tax. On an ongoing basis this results in approximately the same tax revenue, in theory of course....
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0answers
220 views

UK VAT Rounding issue

I calculate VAT per line on invoices. Manager sets prices in gross instead of net so occasionally come across rounding issues like the follow: 9.375 + 1.875 = 11.25 Displayed as 9.38 + 1.88 = 11.25 ...
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vote
1answer
388 views

Sales taxes to apply for a Canadian company selling digital subscriptions

Let's say I have a web service that is a mail server (I cloned gmail). People pay me 10$ per month to use it. My business in located in Canada. When a Canadian resident sign up, I have to charge local ...
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1answer
1k views

Do I need to pay tax on my unregistered online 'business'?

Let's say I have an online store. I sell things and receive revenue. It is profitable. Its server is somewhere in USA. I am currently in Germany. My customers are mostly in, say, Thailand. I have not ...
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2answers
2k views

Where to find Amazon Canada's GST/HST Number? Wasn't on invoice emailed to me

I have a small business registered to collect GST/HST. I purchased a product from Amazon.ca, and they charged me HST. However, the invoice they emailed me did not contain the HST/GST, or Business ...
0
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1answer
572 views

How do I calculate sales tax to many items? [duplicate]

I'm wondering how to calculate sales tax when this situation. Item price is 14.97 and quantity is 7. Sales tax is 9%. 14.97 * 7 * 0.09 = 9.4311 = 9.43 14.97 * 0.09 = 1.3473, rounding up: 1.35 * 7 = ...
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3answers
1k views

Is buying or selling goods for gold or silver considered taxable?

Is buying / selling goods for gold / silver taxable? If yes, what's the rationale behind this?
4
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1answer
856 views

Do I need to collect GST/PST for providing software services to companies outside of Canada?

I have a corporation registered in BC, Canada. I provide custom software development services to companies outside of Canada. Do I need to collect GST/PST ?
3
votes
1answer
569 views

Do classes have to pay sales tax on materials used?

My friend teaches flower classes, a portion of the total amount charged goes for materials and a portion goes for the actual teaching of the class. If a typical class costs someone $100, $50 of that ...
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votes
4answers
15k views

Sales Tax: Rounded Then Totaled or Totaled Then Rounded?

E.g. There is a sale with 3 items, each costing $1.00. Sales tax is 12.4%. In calculating the tax for each item, do I round the tax amount first and then total everything up? Like this: ITEM 1: $1.00 ...
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4answers
24k views

Is sales tax for online purchases based on billing- or shipping address?

My question is simply clarification: when I make a purchase online, is the sales tax applied based on my billing or shipping address? Possibly similar (possibly illegal?) but with no up-voted or ...
0
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1answer
696 views

How do I deduct from Sales Tax Payable in Quickbooks?

(This question could probably use a better title) My current process for paying sales tax works as follows: I collect payments against invoices from clients throughout the month As I collect these ...
0
votes
1answer
254 views

Sales taxed amount in Accounts Receivable?

When I enter a new invoice for a client, for example $1062.50 ($1000 + MA sales tax) do BOTH Accounts Receivable AND Sales Tax Payable go up by the following? Accounts Receivable +1062.50 Sales Tax ...
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4answers
4k views

how do i get an out-of-state billing address for a credit card?

When I buy virtual items online that do not need to be shipped, sales tax is often calculated by the merchant automatically based on my credit card billing address. My billing address is in California,...
1
vote
1answer
164 views

Can I skip Sales Tax Payable and just transfer directly to dedicated bank account?

I am trying to account for sales tax. I just totalled up a Quarter of sales tax and normally, I would create an entry like: Debit "Business Income Checking Account" (true checking account) Credit "...
5
votes
3answers
779 views

Is there a dollar amount that, when adding Massachusetts Sales Tax, precisely equals $200?

I am confused about calculating Massachusetts Sales Tax (6.25%). Is there such an amount, that when added to its sales tax, equals $200? The reason I ask is because my business has been charging $...
2
votes
2answers
102 views

Accounts Receivable included in Gross Sales?

I am trying to determine my sales tax. In a given quarter, let's say I close a deal for $2000 and collect $500 as a deposit. Which number is considered in my "Gross Sales", the $2000 or the $500? ...
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2answers
7k views

How do I get a Tax Exemption Certificate for export from the US if I am in another country?

I live and have a company in South America. Most of my raw materials are from USA. When I purchase these raw materials I'm paying their cost plus tax. Is that correct? When I asked my providers why I ...
2
votes
1answer
1k views

Is sales tax charged on checked baggage fees?

When I buy airplane tickets online, I pay for associated taxes at the same time. But if I have luggage to check, that's a separate cost that gets added when I check in. Should I expect to pay ...
2
votes
2answers
141 views

How to deal with PA sales tax for item bought on behalf of my customer and resold to them?

I work for myself and at times buy a piece of software or something for someone I am working for. Like my title says, I live and work for people in PA. If I pass the product on to my customer at ...
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votes
1answer
471 views

How does a Value Added Tax (VAT) differ from a Sales Tax?

A common trend by many governments has been to introduce a Value Added Tax to replace a Sales Tax (as evidenced by the multitude of HST related questions on this site). How do these types of taxes ...
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1answer
125 views

When does the HST impact pre-purchased services in Ontario? [Canada]

Some services will be impacted earlier than July 1, 2010. What services are impacted and what date does the full 13% get charged?
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1answer
999 views

Ontario HST rebate: When would I qualify?

I turned 18 in January 2010 and I filed a 2009 income tax return. When will I qualify to receive the rebate?
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3answers
5k views

Travelled to New York State & bought something. Can I get sales tax refund back?

I drove to Buffalo, NY over the weekend with some friends, and I bought myself a shiny new Apple iPad. I had to pay New York State sales tax at the Apple Store, as well as declare my iPad purchase at ...
1
vote
1answer
111 views

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?

Are there any special rules for charging sales tax in US Territories such as Puerto Rico?
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2answers
6k views

Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010?

When the HST comes into effect on July 1, 2010 will gas prices at the pump be affected immediately?
5
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1answer
282 views

How can I minimize the impact of the HST?

HST is being introduced in both Ontario (see this question) and B.C., does anyone have suggestions for how to reduce its impact on individuals?
5
votes
3answers
38k views

When does Ontario's HST come into effect?

When does the HST become effective? Will all businesses start charging HST right away, and will it replace the 5% GST with a straight 13% tax for all services?