GOODS AND SERVICE TAX For the following consider whether it is a Taxable Supply, Input Taxed or GST Free. Calculate net GST payable position. Receipts

2-3 Computing Graduated State Income Tax Rather than a flat percentage rate, some states have what is known as a graduated income tax. This means that your state income tax is computed at a varying rate each time you reach a new income level. The higher your income, the greater your tax. Example Find the amount of state income tax deducted from each paycheck. Carla Erpelding's annual salary is $28,500. She is paid biweekly. Her personal exemptions total $1,500. The state income tax is calculated on the following graduated basis: 2.5 percent of the first $25,000 and 3.5 percent over $25,000. 1. Find the taxable wages. - ($28,500 $1,500) = $27,000 2. Find the annual tax withheld. First $25,000: = ($25,000 x .025) = $625 Over $25,000 = ($27,000-$25,000) x .035 = $2,000 x .035 = $70 Annual Tax = $625+ $70 = $695 3. Find the tax per period. Annual Tax Number of Pay Periods per Year = Tax Withheld per Pay Period $695.00 ÷ 26 = $26.73 tax per pay period Practice Using the following graduated…

Assume the following information to complete this question.  Total Gross Sales $100,000 Total Full Deduction $60,000 Total Sales Tax rate of 9% Calculate the amount of District Tax that would be reported. Knowledge of the statewide base rate is needed to figure out ONLY the district tax amount. It may be helpful to use the sales tax return as your guide.

A general state sales tax of 8% assessed on all purchases would be an example of a ___________________ income tax.

The government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.

If 9% is deducted from Jacobs annual pay $1,035 to pay for state taxes, then how much is deducted ?