Go Back   CDN Business Directory > Main Category > Taxes

 
 
Thread Tools Display Modes
  #1  
Old 02-16-2009, 09:02 PM
Katie
Guest
 
Posts: n/a
Default Re: Texas sales tax on discounted charges

On Feb 15, 6:38*pm, Senior Citizen <n9...[at]yahoo.com> wrote:
- quote -

> When I go to a restaurant and they give me a 10% senior citizen
> discount as an example, should the sales tax be applied to the price
> before the discount, or to the 10% discounted price?
> ========================================= MODERATOR'S COMMENT:
> That depends on the state, and perhaps local, regulations.



The actual sales price is the measure of the tax. If the discounted
price appears on your sales check, the regular retail price never goes
on the restaurant's books and the discount is not a problem. If the
discount is taken AFTER the sale has been recorded (e.g., in the case
of a discount for prompt payment of an invoice), the seller can deduct
it from gross sales when the sales/use tax return is filed. See Tex.
Tax Code Ann. §151.007(c)(1) ; Tex. Admin. Code §3.301(d).

Katie in San Diego

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 02-16-2009, 02:57 AM
Alan
Guest
 
Posts: n/a
Default Re: Texas sales tax on discounted charges

Senior Citizen wrote:
- quote -

> When I go to a restaurant and they give me a 10% senior citizen
> discount as an example, should the sales tax be applied to the price
> before the discount, or to the 10% discounted price?
> ========================================= MODERATOR'S COMMENT:
> That depends on the state, and perhaps local, regulations.

The tax should be based on the price after the discount. See any
of the Texas Controller of Public Accounts publications.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 02-16-2009, 01:38 AM
Senior Citizen
Guest
 
Posts: n/a
Default Texas sales tax on discounted charges

When I go to a restaurant and they give me a 10% senior citizen
discount as an example, should the sales tax be applied to the price
before the discount, or to the 10% discounted price?

========================================= MODERATOR'S COMMENT:
That depends on the state, and perhaps local, regulations.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Similar Threads
Thread Forum Replies Last Post
American Funds sales charges?
Chip: My adviser recommended American Funds Growth Fund of America and EuroPacic Growth Fund along with several other American Fund Growth and Equity and...
Financial Planning 15 07-21-2008 09:40 PM
Texas Sales Tax Questions
TheTamdino: I am in the planning stage for a new business that will be conducting business in the state of Texas. Eventually I would like to branch out into...
Taxes 1 03-12-2005 01:19 PM
Discounted commission rates
MTW: A client is administering his father's estate and is about to liquidate a stock portfolio worth approximately $1 million, currently held by Morgan...
Financial Planning 8 03-02-2005 12:04 PM
Taxability of discounted note
Craig: LLC (members are children and grandchildren) has a $300,000 (originally $1 million) note payable/mortgage on the purchase of RE some years ago. The...
Taxes 1 11-29-2004 04:31 PM
discounted upgrades?
shovavnik: Hello everyone, I don't know if Microsoft monitors this forum, but I would really like to know if Microsoft plans on offering free or discounted...
Microsoft Money 5 08-26-2004 08:35 PM



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

All times are GMT. The time now is 05:17 PM.