OpenEuphoria

Re: Taxation

• Posted by gwalters at sc.rr.com Feb 19, 2002
• 455 views

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
>
>
>
>