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4. Sales Tax Defaults

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On the Sales Tax screen, you can enter both the names and rates of the sales taxes that are applicable in your area. The first tax will apply on the full amount of the sale item (unless that tax is not charged on a particular item). The second two taxes can be configured to only apply on amounts over a certain figure, such as the Luxury Tax which is only applicable on amounts over 10,000. Note that on this screen, you enter all the possible taxes, but each item sold can have different combinations of applicable tax: e.g. a clock might have the state sales tax assessed on it but not the luxury tax.

 

 

 

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█                  GoldStar Jewelers ♦ Reset System Defaults                   █

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█                                           Enter the Sales Tax rates below    █

█  Enter the Name of the First Sales Tax:                      Sales Tax       █

█  Enter the Tax-rate for the First Sales Tax:                  6.0000%        █

█                                                                              █

█  Enter the Name of the Second Sales Tax:                     Luxury Tax      █

█  Enter the Tax-rate for the Second Sales Tax:                10.0000%        █

█  Enter the Price above which the Second Sales Tax applies:    10,000         █

█                                                                              █

█  Enter the Name of the Third Sales Tax:                      Local Tax       █

█  Enter the Tax-rate for the Third Sales Tax:                  5.0000%        █

█  Enter the Price above which the Third Sales Tax applies :         0         █

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If you have a two-tiered sales tax system you can enter that too. For example, you may have a sales tax of 8% on amounts up to $2,000 and 6% on amounts above that. To enter this system, enter 8% in the first sales tax and enter –2% for the second sales tax on amounts above $2,000.