1. School supplies. Selling price $4.60. Sales tax rate 3.0%. What is the sales tax?

Q: Suppose you bought a digital camera for a total purchase price of $277.99. If state taxes were 5.4%,…

A: The total purchase price includes both the actual purchase price and also state tax.

Q: Calculate the a) total tax rate, and b) sales tax. 1. Item Clothing Cell Phone MP3 Player Computer…

A: A tax that is paid to an authority for the sale of goods and services is known as a sales tax.…

Q: You decide to work part-time at a local supermarket. The job pays $10.50 per hour and you work 20…

A: The FICA taxes are deducted from the gross pay of the employees. These taxes are deducted to fund…

Q: Calculate net earnings. Gross pay $250.00 Fed Tax $17.88 Social Security Tax $10.71 Medicare tax…

A: Gross Pay = 250 Federal Tax = 17.88 Social Security Tax = 10.71 Medicare Tax = 3.25

Q: There is a sales tax of 24 on an item that costs 276 before tax. A second item costs $218.50 before…

A: Sales tax percentage = Sales tax amount/cost before tax

Q: A VAT-taxpayer made the following sales during the year: Domestic Sales     P100,000 Export Sales…

A: From manufacture through the point of sale, value-added tax (VAT) is collected on a product at every…

Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE  $ 6,750 Credit against…

A: FUTA stands for Federal Unemployment Tax Act. This tax is imposed on employers whose employees leave…

Q: A customer purchases $28.14 in products only $12.83 is taxable. How much sales tax is owed if the…

A: Sales tax is a tax levied on the sale and purchase of goods and services. It is typically a…

Q: A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The…

A: VAT or value added tax as the name suggets is the tax calculated on the sales value but paid after…

Q: Ali, a consumer, buys electronics worth $20,000, while Consumer Jumabuys for $45,000 and Consumer…

A: VAT is Value added tax which is consumption based tax. In various countries it is alternative for…

Q: How did you get $12,974.50 for the Marginal tax rate part?

A: Marginal tax rate is the percentage tax paid on each additional dollar of income earned. In other…

Q: Value Added Tax (VAT) - A retailer buys an article from the wholesaler at OMR 1,800 and the…

A: VAT (Value Added Tax) is levied in the multiple stage of the production of goods and services. It is…

Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $6,750 Credit against FUTA…

A: Formula: Net FUTA tax = Gross FUTA tax due - Credit against FUTA

Q: For income tax purposes, what is the amount of gross income given the following amounts?   Gross…

A: Both people and business use their gross income. It is estimated for people as the total income…

Q: What is the alternative minimum tax (AMT) rate for individuals? 1%. 7%. 12.3%. 20%.

A: The term"  minimal tax rate" generally refers to the smallest chance of income or other fiscal…

Q: A retailer buys a product from the wholesaler at 120 OMR and wholesaler charges sales tax of 8%. The…

A: VAT PAID BY THE RETAILER TO THE GOVERNMENT :  = OUTPUT TAX - INPUT TAX     OUTPUT TAX IS TAX…

Q: If the sales tax is 6% and the purchase price is $193, what is the amount of tax?

A: Sales tax is the tax paid on goods and services, to the taxation authorities. It is an indirect tax…

Q: Consider a tax system where the first $40,000 of income is tax free, the next $40,000 is taxed at…

A: Here discuss about the details of average tax rate, marginal tax rate and taxes which are involved…

Q: A customer paid a total of $7700 for a purchase, including 13% HST (Harmonized Sales Tax). How much…

A: The federal Goods and Services Tax (GST) and provincial sales taxes from several Canadian provinces…

Q: 4. Mahmood buys a commodity from the wholesaler at OMR 1,200 and was charged by a VAT at the rate…

A: given that, Mahmood buys a commodity from the wholesaler at OMR1200 Mahmood sells a commodity at…

Q: Find the tax owed on a purchase of ​$183.11 if the state sales tax rate is 6​%.

A: Taxes are the dues and obligations, which needs to be paid or settled by the business to the…

Q: In step 2 how did you get the excess income tax of 19,520.00?

A: Excess income tax is the amount of income tax which has been previously paid in excess if the…

Q: A customer purchases $28.14 in prodcts only $12.83 is taxable. How much sales tax is owed if the tax…

A: Taxable Amount = $12.83Tax Rate = 10%

Q: Calculate (A) actual sales and (B) sales tax liability: Total sales: $23,152.81 (includes a 5% tax.)…

A: Actual sales = Total sales / (1 + Sales tax rate) Sales tax liability = Actual sales x Sales tax…

Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE  $ 6,750 Credit against…

A: FUTA Tax :— It is payroll tax imposed on wages of employees in United States to help fund the…

Q: A general state sales tax of 8% assessed on all purchases would be an example of a…

A: A general state sales tax of 8% assessed on all purchases would be an example of a…

Q: 3. How much, including taxes of 12%, would you pay for an item with a retail price of $194.95?

A: Retail price=$194.95Taxes=12%Required is to find out the included price.