Use tax on goods purchased or consumed in-state

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Reference no: EM131219655

TR Company conducts business exclusively in State V, which levies a 5% sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. TR also bought machinery in State D. The cost of the machinery was $200,000, and TR paid $7,000 sales tax to State D.

A. How much use tax does TR Company owe to State V with respect to the equipment bought in State B?

B. How much usetax does TR company owe to State V with respect to the machinery bought in State D?

Reference no: EM131219655

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Use tax on goods purchased or consumed in-state : TR Company conducts business exclusively in State V, which levies a 5% sales and use tax on goods purchased or consumed in-state. This year, TR bought equipment in State B. TR also bought machinery in State D. How much use tax does TR Company owe to ..

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