Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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Coupons and rebates are a form of payment that the merchant will be collecting from the manufacturer on your behalf, not a reduction in the sales price. Therefore, taxes are due on the full sale price. It is no different than using a gift card to make a purchase. You pay taxes on the total purchase price, regardless of how you paid for the purchase.
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#17
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I just looked up at Fl sales tax site and they must tax on original price prior to rebate or coupon being applied.
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#18
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It seems to me that if that were the case, then TT should pay the additional sales tax.
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The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center. "I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800. |
#19
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Quote:
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The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center. "I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800. |
#20
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You learn something new everyday!
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#21
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I learn a great deal from this forum and from others far better informed than I am. I can't help being amused by the fact that after the problem is solved that someone, usually from another state, will come on and offer a very long and interesting dialogue on the issue that has been solved. Only in The Villages.
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It is better to laugh than to cry. |
#22
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Thank you. |
#23
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Good information. I plan to ask Sams corporate about it Monday and have already submitted it to Florida sales tax for their take on it.
Maybe I should have mentioned one manager did say the higher tax was not correct, but a supervisor and another manager said it was correct, so even all the folks in the store do not agree. It's not a really big thing but it appears there should be a mentioned on the price tag in the store that tax will be applied to the original amount if that's the proper amount to tax. If this item were mixed in with a lot of other items on a receipt I doubt I would have ever spotted it but in this case it was a single item. Will post any information I get from FL or Sams. Thanks
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Better Days Are Ahead |
#24
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It is not an issue with original price. If I set a price of $10 and my cost was $5 and I sell at $10, the sales tax is on $10. If I choose to sell at $8, then the sales tax is on $8. If I sell at $8, and the customer gives a $2 Coupon saver and I get $6 from the Customer , I still get $8 after I send in the coupon and get rebate. It still is an $8 sale which would be taxed at that rate. Makes sense to me when you think it through.
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#25
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I just read something that said if a discount is a rebate from the manufacturer then it is taxable.
??????
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Nova Water filters |
#26
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It does get crowded at this time of year. Have you EVER seen so many mobility scooters in one place????
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It is better to laugh than to cry. |
#27
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TAX Explanation
Look's like we'll just keep paying the most sales tax. Though it appears the tax was overcharged there is really no interest in fixing the problem. It's only when we are taxed too little that it gets much attention apparently.
Sam's corporate said it was a Sam's reduction or a dealer's discount and not a Turbo Tax reduction so according to the reply from FL the tax should have been applied to the reduced price. Florida's Reply: From: Tax Information Date: 2/20/15 5:00 PM Subject: Response (control #189748) From: Florida Department of Revenue, Tallahassee The Department of Revenue has received your inquiry asking about application of sales tax to discounted items of tangible personal property at retail. Per Rule 12A-1.018, Florida Administrative Code, “A coupon or refund issued directly by the manufacturer is not to be construed as a reduction in selling price by the dealer”, and as such, tax would be applied to the original cost of the item. Conversely, also per Rule 12A-1.018, Florida Administrative Code, “A dealer’s discount is a reduction in selling price if taken at the moment of sale or purchase of a product”, and in that case, the tax would be applied to the reduced price of the item. Essentially, while the manufacturer’s discount does not reduce the price to the merchant, and threrefore does not reduce the tax on the item, a store coupon or discount directly reduces the amount of money taken in by the store for the item, and as such the tax would be based upon the reduced price. Pertinent legal citations may be found in our Revenue Law Library at https://revenuelaw.state.fl.us/Pages/Home.aspx.
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Better Days Are Ahead Last edited by KeepingItReal; 02-21-2015 at 08:58 PM. |
#28
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Tax response from Fl below......
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Better Days Are Ahead |
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