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Ontario Sales Taxes Article
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Learning about Government Taxes on Sales
from:When you consider the meaning of government taxes on sales, several thoughts may come into your mind. In all probability, the first thing that will come into mind is a state sales tax. Although this is the most common, it is not the only means. Some states also have a use tax, a luxury tax, and other types of government taxes on sales. On some products, there is also a federal excise tax on certain products, though it usually pertains to communications products such as telephones and mobile devices.
Other government taxes on sales you may find include transfer taxes on a car, real estate transfer taxes, cigarette tax, alcohol tax, gasoline tax, luxury tax usually charged for hotel/motel stays, and transportation taxes on airline, bus, and train tickets. Many other government taxes on sales are possible, but many are hidden so that the consumer is not aware of all of the potential taxes. One might also consider the gross receipts tax in the category of government taxes on sales since it involves the taxation of a company's sales.
These government taxes on sales can increase the price of good to where the average consumer cannot afford the product. With so many taxes, consumer goods become unmanageable for some people. What that means for the retailer that they lose money in sales or have to compensate in some way. For example, in the past when you bought a new car, you had to pay the transfer tax in addition to any down payment that you were making, but with the price of cars, in order to keep sales, the dealerships and banks had to resort to allowing customers to include the transfer taxes in their loan. Unfortunately, the same does not hold true of transfer taxes on real estate; it must be paid at the closing, and with the median price of homes today, it can be a rather substantial sum of money to pay.
With so many different taxes, sometimes the consumer can feel like he or she is taxed excessively, but the fact that things are spread throughout a number of products usually makes it more manageable. The problem enters the picture with high-ticket items such as cars and real estate because even if the transfer tax is only 2 per cent as it is in some states, that can add up if you're buying a $20,000 car or a $150,000 home. In that case, a person has to decide if they want or need the car or home enough to dig deeper into their pockets to pay the government taxes on sales or wait until a later date. Unfortunately, the only thing a later date might accomplish is the possibility of a lower price on the item, not a decrease in the tax.
Ontario Sales Taxes Specific Links
Ontario Sales Taxes News
Proposed Eastview overhaul tops $50 million - MPNnow.com
Proposed Eastview overhaul tops $50 million MPNnow.com, NY - Currently, Eastview employs about 3250 full and part-time employees and generates about $9.2 million in county sales-tax revenue annually. ... Eastview Mall Seeks Tax Breaks for Major Upgrade |
Study Concludes Extending Light Rail to LA/Ontario International ... - MarketWatch
Study Concludes Extending Light Rail to LA/Ontario International ... MarketWatch - Funds from Los Angeles County Measure "R" half-cent sales tax increase (approved in November 2008) will be available for Gold Line construction from Sierra ... |
Victor's Eastview will get $50M makeover - Rochester Democrat and Chronicle
 WROC-TV | Victor's Eastview will get $50M makeover Rochester Democrat and Chronicle, NY - The IDA also has been asked to provide sales tax abatements on all of the construction materials and labor in the renovations. ... EastView Mall Discusses Expansion Plans Eastview Mall to get upgrade in excess of $50M |
LA agency advances plan to extend Gold Line to LA/Ontario airport - Progressive Rail Roading
LA agency advances plan to extend Gold Line to LA/Ontario airport Progressive Rail Roading, WI - The project would be funded through the recently passed Measure R sales tax increase and construction could start as early as 2010. ... |
Research In Motion Reports Preliminary Q3 Results - FOXBusiness
 Financial Post | Research In Motion Reports Preliminary Q3 Results FOXBusiness - Subject to final review, RIM now anticipates diluted adjusted earnings per share to be in the range of $0.81-$0.83 which reflects the previously guided tax ... BlackBerry maker lowers outlook for quarter UPDATE 5-RIM slashes outlook amid US economic woes BlackBerry-maker RIM lowers Q3 forecast |