TAILIEUCHUNG - Lecture Practical business math procedures (10/e): Chapter 19 - Jeffrey Slater

Chapter 19 - Sales, excise, and property taxes. After you have mastered the material in this chapter, you will be able to: Compute sales tax on goods sold involving trade and cash discounts and shipping charges, explain and calculate excise tax, calculate the tax rate in decimal, compute property tax due. | Chapter 19 Sales, Excise, and Property Taxes Compute sales tax on goods sold involving trade and cash discounts and shipping charges Explain and calculate excise tax Sales, Excise, and Property Taxes #19 Learning Unit Objectives Sales and Excise Taxes Calculate the tax rate in decimal Convert tax rate in decimal to percent, per $100 of assessed value, per $1,000 of assessed value, and in mills Compute property tax due Sales, Excise, and Property Taxes #19 Learning Unit Objectives Property Tax Taxes paid on certain goods and services Sales Tax The sales tax percent is set by each state. Merchants collect funds and forward them to government agencies Sales Tax Compute sales tax and total price given the following information: Selling price of battery $32 Shipping charge $ Trade discount Sales Tax 5% Check: 100% is base + 5% is tax = 105% x $ = $ + = $ Manual calculation Price Trade discount Taxable

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• Property taxes
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• Business math procedures
• Lecture Practical business math procedures
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• Master Thesis in Economics
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• Local Property Tax
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