Sales Tax Calculator

Sales Tax Calculator, tax price, sale tax rate, value added tax

The Sales Tax Calculator is a financial tool that can give you the before tax price, sale tax rate, and the final price value based on any two of the input.
A sales tax is an amount paid to a government for the sales of certain goods and services. Generally the law allows the seller to collect the tax from the consumer when purchasing. Most countries have laws that empower their governments to collect sales tax and some countries refer tax as value added tax (VAT).

Some countries list prices for the goods and services before tax value. When acquiring any form of goods, the sales tax will be added to the listed price. In other countries, the listed prices are after tax final value, which includes the sales tax. The sales tax rate for EU countries ranges from 15% (Luxembourg) to 27% (Hungary). The sales tax rate in the United State ranges from 0% to 15.5% depending on the states and the type of goods and services. The following is a list of the sales tax rates for different states in U.S.

In the United State, the sales tax can be deductible when filing tax return (Form 1040, and itemize deductions on Schedule A). You have the alternative of claiming either state and local income taxes or state and local sales taxes (but not both). You can add up the total amount of sales taxes you actually paid and claim that amount; this can only happen if you saved your receipts throughout the year. But if you didn’t save all your receipts, you can still choose to claim state and local sales taxes.

No Comments, Be The First!

Your email address will not be published.