Sales Tax is sometimes referred to as «US VAT». Sales tax is paid by the end consumer at the time of purchase of a product or service. The price tag indicates the amount without tax, and the client will find out the final cost already at the checkout.
At the same time, the organization transfers to the regional and local budgets of Sales Tax and generates reports on it.
What is the tax amount?
The size of the rate is not fixed centrally, even in different cities of the same state, taxes differ. For example, Sales Tax in New York State is 4%, and in New York City itself it is another 4.5%. Plus, New York City has an additional sales tax of 0.375%. In total, the buyer pays an additional 8.875% upon purchase.
Which states in the US have no tax?
Sales Tax, also called state tax, is not levied by four states: Delaware, Montana, New Hampshire, Oregon. And the highest taxes are in Tennessee (9.53%), Louisiana (9.52%) and Arkansas (9.47%). You can estimate the level of taxation in the state you are interested in according to our scheme:
The amount of the tax additionally depends on the prevalence of the product (the more popular, the less the tax) and the country of origin of the product (the tax on imports is higher).
Are there any tax benefits?
Yes, Sales Tax does not apply to a number of goods and services, such as:
* All prices are subject to change if additional professional advice is required.
Managing Partner of the International Consulting Company FINCOM Group, President of the Regional Economic Development Fund и Regions, Head of the Public Reception under the Commissioner for Protection of Entrepreneurial Rights in Moscow on Youth Entrepreneurship.
She graduated from Moscow State University. M.V. Lomonosova, Faculty of Economics, as well as Saratov State Academy of Law — in specialty «Jurisprudence». Anna — Doctor of Legal Administration «Legal Strategies in the Digital World». She was the internships in Great Britain, Germany, Canada and Austria.
В Our company Anna has gone from a legal advisor to a managing partner — has formed 3 separate FINCOM units in Russia and an office in the USA. Anna is the president of the Regional Economic Development Fund «Investment and Regions».
16 years experience in accounting and accounting organization. Pavel has conducted more than a thousand consultations. He has built up the processes of organizing and forming accounting and financial statements of more than 30 companies in different directions — from IT-sphere to agriculture, from construction to shopping centers. He has experience as a startup and large companies such as INFORMATICA, BEAMR, BIOBEE, TAPTAXI.
Pavel has a higher economic education, qualification «Economist» in the specialty «Finance and Credit». He received the diploma of ACCA in International Financial Reporting at the Academy PwC in 2020.
For 20 years as a lawyer and head of the legal department in The pharmaceutical companies Vladislav provided legal support to the companies IT-sphere, agriculture, housing, health care, education, production enterprises. He can answer any your question about commercial, contractual, corporate, tax and public procurement laws.
He graduated from the Saratov State Law Academy. Candidate of Legal Sciences, Assistant Professor of Financial, Banking and Customs Law named after Professor N.I. Chemicheva S.Y.S. University.
We solve tasks that a full-time employee cannot cope with
Well-coordinated team will save your time and guarantee the result
We are ready to fully control all stages of the project from the idea to the launch of the MVP
We take into account the peculiarities of the legislation of both parties — both Russian and American
Personal data processing policy
1. Общие положения
Настоящая политика обработки персональных данных составлена в соответствии с требованиями Федерального закона от 27.07.2006. № 152-ФЗ «О персональных данных» и определяет порядок обработки персональных данных и меры по обеспечению безопасности персональных данных ООО Финком (далее — Оператор).
2. Основные понятия, используемые в Политике
3. Оператор может обрабатывать следующие персональные данные Пользователя
4. Цели обработки персональных данных
5. Правовые основания обработки персональных данных
6. Порядок сбора, хранения, передачи и других видов обработки персональных данных
Безопасность персональных данных, которые обрабатываются Оператором, обеспечивается путем реализации правовых, организационных и технических мер, необходимых для выполнения в полном объеме требований действующего законодательства в области защиты персональных данных.
7. Трансграничная передача персональных данных
8. Заключительные положения