Author Topic: Sales Taxes  (Read 279 times)

Offline BallFreak

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Sales Taxes
« on: November 27, 2013, 05:40:59 PM »
I just want to know, how to account for sales taxes?  This is very con*sing to me.
« Last Edit: November 27, 2013, 05:40:59 PM by Guest »
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Offline MatrixBall

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Re: Sales Taxes
« Reply #1 on: November 04, 2013, 03:06:04 AM »
When you say sales tax, it is a state or local tax on sale of products or services, based on the percentage of sales price. For example, if a retailer sells a product for $100, and the state sales tax rate is 7%, then the retailer will collect $7 from the customer and then transmit that $7 to the state government. Hope this helps you out.
« Last Edit: November 04, 2013, 03:06:04 AM by Guest »
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