1. Taxation
- Posted by euman at bellsouth.net
Feb 18, 2002
Hello all,
This is non-programming related but I need an answer.
Has anyone figured out what amount of tax is on $1.00?
consider a candy bar that when you buy it cost $1.00
also consider it a while loop thats never false
while true do
1. the manufacturer pays a tax
2. the retailers pay a tax
3. the purchase is taxed
4. you work for the manufacturer and
your taxed on the income
end while
and anyother tax Ive missed.
hmmm, how much of this $1.00 is actually not taxed?
What the hek was there a tea party?
Euman
euman at bellsouth.net
Q: Are we monetarily insane?
A: YES
2. Re: Taxation
Euman:
This is called a CST or Cascading Style Taxing. Though you think this
might seems *weird*, it's nothing compared with we have in Brazil. We
have kind of fifty eight (58) different taxes and fees! That's a record
I wouldn't mind to leave on... Bye, bye, candy bar...
-- Euler
On 18 Feb 2002, at 23:12, euman at bellsouth.net wrote:
>
> Hello all,
>
> This is non-programming related but I need an answer.
>
> Has anyone figured out what amount of tax is on $1.00?
>
> consider a candy bar that when you buy it cost $1.00
>
> also consider it a while loop thats never false
>
> while true do
> 1. the manufacturer pays a tax
> 2. the retailers pay a tax
> 3. the purchase is taxed
> 4. you work for the manufacturer and
> your taxed on the income
> end while
>
> and anyother tax Ive missed.
>
> hmmm, how much of this $1.00 is actually not taxed?
>
> What the hek was there a tea party?
>
> Euman
> euman at bellsouth.net
>
> Q: Are we monetarily insane?
> A: YES
>
>
>
>
3. Re: Taxation
The tax on a retail item on sale for $1.00 in Australia is $0.09.
This is because we have a GST (Goods & Services Tax) set at 10%. Everybody
in the production stream pays the Govt 10% on what they bought it at and
collects it back from the next person in the stream.
----- Original Message -----
From: <euman at bellsouth.net>
To: "EUforum" <EUforum at topica.com>
Subject: Taxation
>
> Hello all,
>
> This is non-programming related but I need an answer.
>
> Has anyone figured out what amount of tax is on $1.00?
>
> consider a candy bar that when you buy it cost $1.00
>
> also consider it a while loop thats never false
>
> while true do
> 1. the manufacturer pays a tax
> 2. the retailers pay a tax
> 3. the purchase is taxed
> 4. you work for the manufacturer and
> your taxed on the income
> end while
>
> and anyother tax Ive missed.
>
> hmmm, how much of this $1.00 is actually not taxed?
>
> What the hek was there a tea party?
>
> Euman
> euman at bellsouth.net
>
> Q: Are we monetarily insane?
> A: YES
>
>
>
>
4. Re: Taxation
- Posted by gwalters at sc.rr.com
Feb 19, 2002
If you are the mfg. or wholesaler and sell to:
1. a person/company who has a retail license then there is no tax,
otherwise
2. the mfg. or wholesaler collects the tax.
2a. If you ship the item and charge freight then the freight is
also taxable in most states.....however 'shipping and handling" is not
taxed....so always on your invoicing put 'shipping and handling... not
"freight".
2b. in SC the state sales tax is 5% unless you're 85yrs old
(they can't usually get to the store anyway) and then it's 4%. Counties also
have a tax it's 1% or 0% depending on the county. In coastal counties there
is also a tourist tax but I don't know what it is. In some cities(not SC)
there's a city tax.
As the wholesaler, at the end of the year you pay property/inventory tax on
the candy bar if it's still in inventory. You may also pay income tax if you
made net profits and you have more candy bars this year than last year. (you
can't hide profits by buying inventory.)
George Walters
----- Original Message -----
From: <euman at bellsouth.net>
To: "EUforum" <EUforum at topica.com>
Sent: Monday, February 18, 2002 11:12 PM
Subject: Taxation
>
> Hello all,
>
> This is non-programming related but I need an answer.
>
> Has anyone figured out what amount of tax is on $1.00?
>
> consider a candy bar that when you buy it cost $1.00
>
> also consider it a while loop thats never false
>
> while true do
> 1. the manufacturer pays a tax
> 2. the retailers pay a tax
> 3. the purchase is taxed
> 4. you work for the manufacturer and
> your taxed on the income
> end while
>
> and anyother tax Ive missed.
>
> hmmm, how much of this $1.00 is actually not taxed?
>
> What the hek was there a tea party?
>
> Euman
> euman at bellsouth.net
>
> Q: Are we monetarily insane?
> A: YES
>
>
>
>
5. Re: Taxation
- Posted by gwalters at sc.rr.com
Feb 19, 2002
Another item, pure labor charges are not usually taxed, however if it's
manufacturing something and part and parcel of the end product it is
taxable. For example a person asks you to make him a trailer and your
materials cost $100 and your labor costs are $300 and you sell him the
trailer for $400 then the entire $400 is taxed. If he brings you the
materials and you charge him $300 labor to make the trailer then the $300 is
not taxable.
George Walters
----- Original Message -----
From: <euman at bellsouth.net>
To: "EUforum" <EUforum at topica.com>
Subject: Taxation
>
> Hello all,
>
> This is non-programming related but I need an answer.
>
> Has anyone figured out what amount of tax is on $1.00?
>
> consider a candy bar that when you buy it cost $1.00
>
> also consider it a while loop thats never false
>
> while true do
> 1. the manufacturer pays a tax
> 2. the retailers pay a tax
> 3. the purchase is taxed
> 4. you work for the manufacturer and
> your taxed on the income
> end while
>
> and anyother tax Ive missed.
>
> hmmm, how much of this $1.00 is actually not taxed?
>
> What the hek was there a tea party?
>
> Euman
> euman at bellsouth.net
>
> Q: Are we monetarily insane?
> A: YES
>
>
>
>
6. Re: Taxation
Where do you live? The first doller you make gets a
15.3%FICA tax on it, so you'd pay $45.90 on $300 just to
start.
Alvin
--- gwalters at sc.rr.com wrote:
>
> Another item, pure labor charges are not usually taxed,
> however if it's
> manufacturing something and part and parcel of the end
> product it is
> taxable. For example a person asks you to make him a
> trailer and your
> materials cost $100 and your labor costs are $300 and you
> sell him the
> trailer for $400 then the entire $400 is taxed. If he
> brings you the
> materials and you charge him $300 labor to make the
> trailer then the $300 is
> not taxable.
>
> George Walters
>
> ----- Original Message -----
> From: <euman at bellsouth.net>
> To: "EUforum" <EUforum at topica.com>
> Sent: Monday, February 18, 2002 11:12 PM
> Subject: Taxation
>
>
> > Hello all,
> >
> > This is non-programming related but I need an answer.
> >
> > Has anyone figured out what amount of tax is on $1.00?
> >
> > consider a candy bar that when you buy it cost $1.00
> >
> > also consider it a while loop thats never false
> >
> > while true do
> > 1. the manufacturer pays a tax
> > 2. the retailers pay a tax
> > 3. the purchase is taxed
> > 4. you work for the manufacturer and
> > your taxed on the income
> > end while
> >
> > and anyother tax Ive missed.
> >
> > hmmm, how much of this $1.00 is actually not taxed?
> >
> > What the hek was there a tea party?
> >
> > Euman
> > euman at bellsouth.net
> >
> > Q: Are we monetarily insane?
> > A: YES
> >
> >
>
>
>
>
=====
See my homepage at
http://ka9qlq.tripod.com/home/
and where I live at
http://ka9qlq.tripod.com/CCC/
This is a 256 Megabyte 400 Mhz 13 Gig. plug and pray system.
7. Re: Taxation
FICA (Federal Insurance Contributions Act) is not actually considered a
"tax". It is a payment for social security insurance.
