Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: BryanZ1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122522  
Subject: IRS Pub 600 Sales Tax question Date: 2/10/2005 3:16 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
So I bought a car this year and I'm planning on taking advantage of the sales tax deduction via IRS Pub 600.

I have a question I was hoping someone would be kind enough to answer.

I'm a little unclear on the local general sales tax. I live in San Diego. I believe our sales tax rate is 7.75%, compared to California's 6.1% statewide sales tax. I'm assuming by the example that to determine the rate of local sales tax I'm simply subtract San Diego's gross sales tax rate (.0775) from California's statewide sales tax rate (.061) to come up with San Diego's actual sales tax rate of .0165.

Am I doing the steps here correctly? I'm trying to avoid an audit ;)

Thanks much!
BZ1
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Kiddie Card Board
Should kids have their own credit card?
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

The Wealth of Power
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement