Search results
Results from the WOW.Com Content Network
Sales and use tax is calculated as the purchase price times the appropriate tax rate. Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale.
Most states exempt gasoline from general sales taxes. However, several states collect full or partial sales tax in addition to the excise tax. Sales tax is not reflected in the rates below.
The Texas state sales and use tax rate is 6.25% since 1990, but local taxing jurisdictions (cities, counties, special purpose districts, and transit authorities, but specifically not including school districts) may also impose sales and use taxes up to 2% for a total of 8.25%.
The Sales Tax Deduction Calculator, for example, can help those who itemize determine how much state and local general sales tax they can claim.
What many don't realize, though, is that a lucrative tax break that was part of the shopping equation for them in With Black Friday just a few days away, shoppers across the nation are getting ...
The sales tax holiday is estimated to save Texans $2.1 million in state and local taxes, according to the comptroller’s office.
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, and by municipal governments in West Virginia and Kentucky.
The taxes your business incurs are deductible from your income tax. These include sales tax, real estate tax, or other local, state or federal business taxes.
The states do not allow a tax deduction for income taxes, whether federal or state. Further, most states deny tax exemption for interest income that is tax exempt at the federal level. CIT rates range from 1% to 12%, varying for every state.