Search results
Results from the WOW.Com Content Network
Your sales tax on a vehicle used for business purposes can be deducted as a business expense on your tax return. Either deduct the full vehicle cost with sales tax in the year purchased or ...
For a hobby (an activity not engaged in for profit), income and expenses are listed separately. The income is included on line 21 of the Form 1040 (Other income). Therefore, the hobbyist is required to file the long form, Form 1040 (as the other Forms 1040A and 1040EZ have no lines to include "other income").
You must pay vehicle sales tax when you buy a used car if you live in a state that has sales tax. However, you do not pay that tax to the car dealer or individual selling the car.
Many cities, counties, transit authorities and special purpose districts impose an additional local sales or use tax. Sales and use tax is calculated as the purchase price times the appropriate tax rate. Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale.
An individual who titles a motor vehicle with the West Virginia Division of Motor Vehicles must pay a $10 title fee and a 5 percent title privilege tax (rather than the 6% sales tax). For vehicles purchased new by West Virginia residents, the measure of this tax is the net sales price of the vehicle.
For premium support please call: 800-290-4726 more ways to reach us
Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a form packaged and labeled ready for shipment or delivery to final users and consumers; Retail sales tax, a tax on sales of retail of tangible personal property to final consumers and industrial users [3] Gross receipts taxes, levied on all sales of a ...
For premium support please call: 800-290-4726 more ways to reach us