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#9
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| "**THE-RFI-EMI-GUY**" <rhyolite[at]nettally.com> wrote: - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
triple. you had to earn more than $30 to get to spend> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? that $30. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#8
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| Seth Breidbart wrote: - quote - > Suppose instead of a $10 coupon, they gave me a coupon good
Yes. Sales tax is based on the 10$. And you pay it on the spot.> for a free tube of toothpaste (that happens to cost $10 > normally). Would it then be taxable? - quote - > What if the coupon is a free "any item whose price isn't
Yes. Sales tax based on actual selling price. Ditto ; pay it> above $10"? - quote - > What if it's "$10 off any item whose price is above $10"?
Ah.. the kicker. In this case sales tax is charged onactual selling price I think. the 10$ off acts as reduction of selling price. At least that's the way I would interpret it. Sales tax laws sometimes seem more complicated than income tax laws, if that is possible. All sorts of exemptions and inclusions. Any of my retail clients might call me any day to ask such a question relating to either Alabama or Georgia sales tax. ChEAr$, Harlan << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#7
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| "Seth Breidbart" <sethb[at]panix.com> wrote: - quote - > Suppose instead of a $10 coupon, they gave me a coupon good
Anyplace I've ever lived you'd owe sales tax on the gross> for a free tube of toothpaste (that happens to cost $10 > normally). Would it then be taxable? > What if the coupon is a free "any item whose price isn't > above $10"? > What if it's "$10 off any item whose price is above $10"? retail price of the merchandise you bought, regardless of how you paid for it. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#6
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| - quote - > > I go to the CVS drug store and buy a $30 item. Clerk adds
Suppose instead of a $10 coupon, they gave me a coupon good> > 6.5% FL state sales tax and issues an in store rebate for > > $10. Two weeks later I use rebate coupon and get charged > > 6.5% on top of my purchases. Is this correct? > Yes. > they may call it a "rebate", but it is actually a > kickback.... uh... make that "spiff" of sorts and does not > act to reduce your cost, hence Florida wants sales tax on > the 30$. > Now you have the 10$ coupon. When you spend it, for > anything, whether for same product or toothpaste, that is a > separate sale as far as Floridy is concerned. for a free tube of toothpaste (that happens to cost $10 normally). Would it then be taxable? What if the coupon is a free "any item whose price isn't above $10"? What if it's "$10 off any item whose price is above $10"? Seth << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#5
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| **THE-RFI-EMI-GUY** wrote: - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
Yes.> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? they may call it a "rebate", but it is actually a kickback.... uh... make that "spiff" of sorts and does not act to reduce your cost, hence Florida wants sales tax on the 30$. Now you have the 10$ coupon. When you spend it, for anything, whether for same product or toothpaste, that is a separate sale as far as Floridy is concerned. ChEAr$, Harlan Lunsford, EA n LA << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#4
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| **THE-RFI-EMI-GUY** at rhyolite[at]nettally.com wrote: - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
As far as FL is concerned you bought taxable goods. They> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? don't care how you paid for them. All freely provided advice guarantee correct or double your money back Frank S. Duke, Jr. CPA Cincinnati, OH USA << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#3
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| "**THE-RFI-EMI-GUY**" <rhyolite[at]nettally.com> wrote - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
Two separate sales. The sales tax applies to each> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? transaction separately. -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#2
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| **THE-RFI-EMI-GUY** wrote: - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
Absolutely. Seems crazy, but why can't the store just reduce> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? the price of the first item to $20, and forget the rebate BS? Reason? A lot of people never send for the rebate or don't use the coupons! Of course, the state tax office ALWAYS gets their cut. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#1
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| "**THE-RFI-EMI-GUY**" <rhyolite[at]nettally.com> wrote: - quote - > I go to the CVS drug store and buy a $30 item. Clerk adds
Probably. I don't know Florida sales tax law, but> 6.5% FL state sales tax and issues an in store rebate for > $10. Two weeks later I use rebate coupon and get charged > 6.5% on top of my purchases. Is this correct? everywhere I've ever lived sales tax is applied to the total purchase, with coupons being applied after. Your subject line indicates you're seeing this as double taxation of $10. I see it as single taxation of $40 worth of goods. -- Phil Marti Clarksburg, MD << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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| Probably, most of these type of rebates or refunds say (in the fine print) that you are responsible for any sales tax that may be due. Missy Doyle << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#-1
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| I go to the CVS drug store and buy a $30 item. Clerk adds 6.5% FL state sales tax and issues an in store rebate for $10. Two weeks later I use rebate coupon and get charged 6.5% on top of my purchases. Is this correct? -- Joe Leikhim K4SAT "The RFI-EMI-GUY" The Lost Deep Thoughts By: Jack Handey Before a mad scientist goes mad, there's probably a time when he's only partially mad. And this is the time when he's going to throw his best parties. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| double, taxation |
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