Refresh; If giving a discount on products and or service, Do I charge tax on the total price before discount?
ie; $869.00 Total, Disc. $70.00. Tax the Total of $869.00?
2007-05-30 06:31:58 · 5 answers · asked by Teri 0212 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
discounted amount, the govenment gets enough in taxes w/o getting more.
2007-05-30 06:36:03 · answer #1 · answered by redwine 6 · 0⤊ 0⤋
Teri, check the state regulations on income tax as each state is different. In NJ, you must tax the full amount before discount, but you do not charge tax on shipping and handling.
2007-05-30 07:51:14 · answer #2 · answered by Mom of 2 4 · 0⤊ 0⤋
Generally speaking.....
Sales taxes are calculated before manufacturer's coupons but after store coupons or discounts.
2007-05-30 07:15:51 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋
The actual purchase price
2007-05-30 06:35:27 · answer #4 · answered by jimmy b 3 · 0⤊ 0⤋
You pay tax for the amount you sell
sammy
http://www.truemugs.com
custom mugs
2007-05-30 06:45:15 · answer #5 · answered by conceptsti 2 · 0⤊ 0⤋