[Kako]
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- Posted: Wed, 01 Sep 2010 19:34:54 +0000
Frosted Muffin Cakes
In regards to keeping prices even, what some places to is they say that the listed price is including tax. So if your bookmarks were 2 bucks a pop, they'd actually be 1-something. You'd be making less money per item, I think, but it's a way to charge for taxes and not make things cost 2 dollars and 14 cents or something silly.
...Is tax on items determined by state, or is that a nationwide thing? I suppose that could get quite horrific if you have to adjust the "actual" price of the product for every convention to get the right amount when you add tax...
...Is tax on items determined by state, or is that a nationwide thing? I suppose that could get quite horrific if you have to adjust the "actual" price of the product for every convention to get the right amount when you add tax...
It's determined by state, and even then sometimes changed by county. What almost everyone in Alleys does is just take the sales tax from their own gross profit rather than passing it on to the customer. So last year at fanime I mad $235 gross. California Sales tax is 8.750%, but San Jose adds a county sales tax that brings it up to 9.250%. So after the con, when it came time to file my taxes, I listed $235 as my gross profit and paid $21.74 in sales taxes.
Jayde - The Tax Permit is Sales & Use Tax. When any money is earned, it's taxed once when the business gets it (Sales & Use) and once when you get it (Income). However, I'm pretty sure that if you earn under a certain amount with your small business (which technically AA tables usually count as) the earnings don't actually have to pass through your income tax. (Don't quote me on this one, I'll try to research it more and come back with a definite number.) Anyways, you can easily keep your prices nice and simple. smile