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Summary: Sales tax depends on the state and some items are not taxable, such as some food items. Calculate sales tax by contacting the state or county with tips from an accountant in this free video on taxes and finances.
Doretha "Faye" Jones has an MBA and over 20 years of accounting experience in addition to experience at Sarbanes Oxley audit support. Jones works with businesses and their valued...read more
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"With all the changes in the economy, we're all faced with tight resources and tight funds. So you're making a purchase, and you want to calculate how much sales tax should apply to that purchase. Well, that depends. It depends on what state you're in. For instance, Florida, our sales tax rate is six percent. Unless you live in Pennellis County, then it's seven percent. And then there are some items that are not taxable at all. Certain food items are not taxable, depending on what state you're in. So what I strongly recommend is that if you really want to know how far your money is going to stretch, is that you go to your local state's website, and find out what the sales tax rate is for your state, or in your particular county within that state. Again, this is Faye Jones, and I'm here talking to you about sales tax on the purchase of an item. Thank you."
eHow Article: How to Calculate Sales Tax
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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