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Sales Tax Questions

What is sales tax?

Sales tax is a tax that is paid to the government by a vendor for the sales of a variety of goods and services. Normally the law requires the vendor to gather funds from the customer at the point of sale. Some laws permit the vendor to list the tax alone from the price of the goods or services; it could require that sales tax is included in the price. The amount of sales tax is collected is calculated by a percentage rate to the taxable price of a sale for the goods and services. The laws often give an exemption for certain goods and services from sales tax. You can read below to find more information on sales tax by ask the many available Experts.

Does bankruptcy cover unpaid sales tax in a corporation?

Corporations and businesses are not allowed to have any tax debt released by bankruptcy. Also an individual’s trust fund tax responsibility can be moved to the corporate officers and owners. Any trust fund taxes are sales tax, property tax and wage withholding tax. Only an individual’s may have their personal income tax debts set free only if their income tax debt meets the accurate requirements.

Is sales tax valid on late payment service charges?

Tax has to be gathered with the full purchase price without any subtraction on an account of the charge of labor, shipping, installation. Split acknowledged charges for returnable items are not subject to tax. Considering that late fees are not part of the purchase price, you will not collect sales tax on any late payment charges.

If a company pays sales tax at the distributor do they add sales tax when they sell the product at a retail job site?

When you purchase materials you will pay sales tax at the time of purchase, with that being said you will not charge the customer sales tax on the materials when you sell them. The reasoning for that is you would be charging tax twice on the same materials. Now whether you should be paying sales tax on the materials when you purchase them depends on how you quote and invoice the customers. Now if you charge the customers a lump sum for the work don’t, you will need to be paying the sales tax at the time of purchase and to be charging the customers sales tax. If you charge the customer based upon the time and material, you will be able to purchase the materials without having to pay sales tax, and then you can charge sales tax when the customers pay.

Does the state of Pennsylvania charge sales tax on items purchased on the internet?

Pennsylvania does charge sales tax on items purchased on the internet if the online seller has a store located in the state of Pennsylvania. Or else it would be considered a cross-state line sale which means sales tax if free.

Have you or someone you know had questions pertaining to sales tax? These questions may be what is sales tax, where can you find sales tax information. You may not know where to turn to seek these types of questions. You can ask these questions and several others to the thousands of available Experts.

Ask a Financial Professional

Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: General
Satisfied Customers: 2164
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
43581946
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Rakhi Vasavada
Financial and Legal Consultant
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Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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    Thank you for helping me! I desperately want to move out of this condo. The rental market in this area and building is very good, so I know I can rent, but my son wants me to stay in this unit and use the mortgage to invest and make me more financially secure. I want to stay in this location because I am going to school a block away and other reasons.
    The condo I want is really a buy, as well, one of the better units in the building.
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