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kondaur [170]
3 years ago
6

When you purchase an item in a store, you may be charged __________.

Business
2 answers:
Vlada [557]3 years ago
7 0

According to the question, you may be charged <u>sales tax</u> when you purchase an item in a store.

A sales tax refers to the tax that is imposed on goods and services. This tax is a consumption tax that is imposed by the government.

<h2>Further Explanation</h2>

The retailer collects the sales tax on behalf of the government and which is later remitted to the purse of the government. The retailer remits the sales tax either monthly or quarterly. Any businesses that operate in any environment where the sale tax law exists are liable to pay sales tax.

The end-users of the product or services offered by a company are charged for a sales tax. The sales tax rate is different among states in the US, it ranges from 1.7% to 9.45%. There are also some states with local sales tax laws.

There are 5 States in the US that do not charge sale tax on purchases. These states includes:

  • Oregon
  • Delaware
  • New Hampshire
  • Montana

However, in some of the five states, the local municipalities are allowed to charge sales tax. Also for the company to collect tax from consumers they have to apply for a sales tax permit. While some states require a fee to get the permit, some state grants the permit at no charge.

LEARN MORE:

  • Sales tax is caculated brainly.com/question/10609298
  • 5% sales tax brainly.com/question/372989

KEYWORDS:

  • sales tax
  • local municipalities
  • US
  • consumption tax
  • product
  • services
Bess [88]3 years ago
5 0
<span>When buying any item in most stores, you are charged sales tax. Retailers, even smaller businesses are charged taxes for running their business. Businesses are able to pass on part of the burden to their paying customers in way of sales tax. So when you see an item marked as 99 cents, you will be paying slightly more than a dollar in almost all cases.</span>
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Answer:

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Allownace for uncollectible      469000

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3 years ago
A bank has $8,000 in deposits and $6,000 in loans. it has loaned out all it can given the reserve requirement. it follows that t
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3 years ago
if the interest rate on a savings account is 0.018%, approximately how much money do you need to keep in this account for 1 year
scZoUnD [109]
A = $9.99, the amount needed after 1 year 
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