What was vopats march retail sales subject to sales tax

Assignment Help Taxation
Reference no: EM13506043

Vopat Inc is a retail store operating ina state with a 5% retail sales tax. The state law provides that the retail sales tax collected during the month must be remitted to the state during the following month. If the amount collected is remitted to the state on or before the 20th of the following month the retailer may keep 3% of the sales tax collected. on April 10th Vopat remitted $135,800 tax to the state tax division for March retail sales. What was Vopat's March retail sales subject to sales tax?

A) 2,716,000
B)2,660,000
C)2,800,000
D)2,741,667

 

Reference no: EM13506043

Questions Cloud

Occupational safety and health administration : Describe the purpose of the Occupational Safety and Health Administration (OSHA). In addition, discuss the difficulties involved with bringing an OSHA case up for criminal charges
What other groups also experience marginality : Marginality describes the status of living in two distinct cultures simultaneously. How can some Jewish Americans experience marginality? Provide one specific example. What other groups also experience marginality?
Determine the profit : Webster Training Service (WTS) provides instruction on the use of computer software for the employess of its corporate clients. It offers courses In the client's offices on the client's equipment.
Types of job performance management techniques : Discuss briefly on the four types of job performance management techniques
What was vopats march retail sales subject to sales tax : on April 10th Vopat remitted $135,800 tax to the state tax division for March retail sales. What was Vopat's March retail sales subject to sales tax?
What is the maximum capital cost : What is the maximum capital cost of the conversion unit for which a refiner should proceed with the investment and what does this tell you about the significance of estimating future product prices?
Estimate the magnitude of the tangential acceleration : A flywheel with a radius of 0.700m starts from rest and accelerates with a constant angular acceleration of 0.900rad/s^2. Compute the magnitude of the tangential acceleration of a point on its rim at the start
Compare with other religious groups : How are Arab Americans portrayed in American film and television? Provide one specific example. How does this compare with other ethnic American groups? How are Muslims portrayed in American film and television? Provide one specific example. How d..
What is the maximum altitude the rocket reaches : In an experiment in physics class, a model solid-fueled rocket is fired vertically with an acceleration of 3 m/sec2 for 6 seconds. After that time, What is the maximum altitude the rocket reaches

Reviews

Write a Review

Taxation Questions & Answers

  Find amount of bear capital loss carryover

Bear Corporation has a net short-term capital gain of $35,000 and a net long-term capital loss of $200,000 during 2011. Bear Corporation has taxable income from other sources of $600,000.

  Questions problem 1chicago company has the subsequent

questions problem 1chicago company has the subsequent information pertaining to its brick division for this

  Income tax

Assuming Chen elect not to claim bonus  depreciation, what is the maximum current year  cost  recovery deduction on the asset purchased?

  Advise periwinkle of its fbt consequences arising out

For the period 1 May 2013 to 31 March 2014, Emma travelled 10,000 kilometres in the car and incurred expenses of $550 (including GST) on minor repairs that have been reimbursed by Periwinkle

  Depreciation expense will be reported for tax purposes

What annual depreciation expense will be reported on the income statement for the center and what annual depreciation expense will be reported for tax purposes?

  Which one of the subsequent statements best reflects

which one of the subsequent statements best reflects sternbergs triarchic theory of intelligence?a. intelligent

  1 fairfax company had a balance in deferred tax liability

1. fairfax company had a balance in deferred tax liability of 840 on 31st december 2014 resulting from depreciation

  Suppose sarah is a cash-method calendar-year taxpayer and

suppose sarah is a cash-method calendar-year taxpayer and she is considering making the subsequent cash payments

  Differences between ordinary income and statutory income

What the differences between Ordinary Income and Statutory income and clarify what Capital Gains and CGT.

  Compute tanagers taxable income and tax for the year

Compute Tanager's taxable income and tax for the year and compute Tanager's taxable income and tax for the year

  What date can the irs no longer pursue

As of what date can the IRS no longer pursue Kevin with the threat of collection of the related tax, interest, and penalties?

  Which of following statement characterizes sales-type lease

Assuming Dodger's tax rate is 30 percent in all periods, and that the company uses the carryback provisions, what amount should appear in Dodger's statements for financial reporting purposes as a net loss in 2011?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd