question below?

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When I receive a payment - I get a percentage taken out for transaction fees for credit card processing. Do I calculate the sales tax I owe against the full amount of the purchase or after the transaction fees have been taken out?

2007-04-21 18:42:33 · 3 answers · asked by JD 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

The full amount for sales tax. The transaction fees would be a business expense for income tax though.

2007-04-23 20:01:21 · answer #1 · answered by Amy F 3 · 0⤊ 0⤋

Full Amount.

The sales tax would be the same whether the person was paying by credit card, cash or check.

2007-04-22 09:54:22 · answer #2 · answered by Wayne Z 7 · 0⤊ 0⤋

from the full amount.

2007-04-22 02:00:09 · answer #3 · answered by Ben 3 · 0⤊ 0⤋