BUS 214 Chapter 19 by https://padlet.com/megan_hooper82948/ru7je8dxplwv Sales, Excise, and Property taxes en-us 2017-07-24 00:55:53 UTC 2024-10-30 08:14:59 UTC hello@padlet.com Sales Tax megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179271599 In the United States, 45 states have sales tax, 28 out of these 45 exempt food.]]> 2017-07-24 01:01:06 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179271599 Calculating Actual Sales megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179272517 Total sales typically include the sales tax, therefore sales tax must be deducted from the total sales in order to calculate actual sales.]]> 2017-07-24 01:15:03 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179272517 Actual Sales megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179272609 2017-07-24 01:16:41 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179272609 Excise Tax megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273016 Excise is paid in addition to sales tax and is based on a certain retail price of a given service or product.]]> 2017-07-24 01:20:32 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273016 Calculating Excise tax megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273125  On June 1, Angel Rowe bought a fur coat for a retail price of $5,000. Sales tax is 7% with an excise tax of 8%. Her total cost is as follows:

$5,000
+    350 sales tax (.07 x $5,00)
+     400 excise tax (.08 x $5,000)
__________________________
$5,750    
]]> 2017-07-24 01:21:33 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273125 Property Tax megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273714 If a person owns property, they are liable to pay property tax. ]]> 2017-07-24 01:27:07 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273714 Assessed Value megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273799 Assessed Value is defined as the value of property for purposes of computing property taxes.]]> 2017-07-24 01:28:18 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273799 How to calculate Assessed Value megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273862 2017-07-24 01:29:00 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273862 How to Determine Tax Rate megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273981 Tax rate can be viewed as a decimal, percent, per 100, per 1000, and a mill]]> 2017-07-24 01:30:15 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179273981 A Mill megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179274322 A Mill is 1/10 of a cent or 1/100 of a dollar. To find the number of Mills, one must divide the tax rate by the decimal .001.]]> 2017-07-24 01:34:01 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179274322 How to Calculate Property Tax Due megan_hooper82948 https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179274596 2017-07-24 01:36:26 UTC https://padlet.com/megan_hooper82948/ru7je8dxplwv/wish/179274596