Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on...

4
Sales and Income Tax

Transcript of Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on...

Page 1: Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on the percentage of the cost. Income tax – A tax that is.

Sales and Income Tax

Page 2: Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on the percentage of the cost. Income tax – A tax that is.

• Sales tax – a tax that is added to the cost of goods or services based on the percentage of the cost.

• Income tax – A tax that is paid to the government based on a percentage of wages earned.

Page 3: Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on the percentage of the cost. Income tax – A tax that is.

Find the total cost of a laptop that cost $659 with a sales tax of 6.25%.

EX1)

$659 X 6.25%. 659 X .0625

329513180

395400411875.

659 + 41.19 659.00 + 41.19 700.19

sales tax

$ Total cost

Page 4: Sales and Income Tax. Sales tax – a tax that is added to the cost of goods or services based on the percentage of the cost. Income tax – A tax that is.

Figure the net pay for the following pay stub. Mary makes $12.00 an hour and works a 40 hour week. Use the percentage rates provided for each.

EX2)

Mary Ann MarshallGross pay

Medicare (1.4%)

Social Security (4.2%)Federal Withholding (15%)Net Pay

40 X 12480 X 0.014

480.006.72

480 X 0.04220.16

480 X 0.1572.00

480 - taxes381.12


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Income Tax & Sales Tax (2)

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Income Sales Tax

Income Sales Tax

Emancipating America from the Income Tax: How a National Sales Tax Would Work, Cato Policy Analysis

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A Visual Guide to Tax Modernization in Utah · Sales Tax Conceptual $4.2 Billion Personal andProperty Tax* Corporate Income Tax $1.7 Billion $2.4 Billion Sales Tax** Reality FY2017

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M1 2016 Individual Income Tax 1611 - efile.com · tate income tax or sales tax addition2 S . If you itemized deductions ... will not increase your tax or reduce your refund . From

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(Resident Return and Sales Tax Relief Form) 2001 Oklahoma ... · Tax Forms and Instructions Packet contains: • Instructions for completing the 511 income tax form • Two 511 income

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Chancellor's Advisory Council Meeting Agenda · – Sales Tax – Personal Income tax (2/3 of State’s General Fund revenue) – Corporate Income tax – Other taxes, such as gas

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