Businesses do not pay taxes.
If I go to the gas station and pick up a $1.00 candy bar and take it to the register the total comes to $1.06 .
The state taxes the RETAILER 6% on sales. The state doesn't care if the retailer adds the 6% at register or not. The state just wants its 6% tax on sales.
Business taxes are the same except the tax is built into the price instead of tacked onto the sale.
Do you think they buy the candy bar for $1.00?
No, they buy it for .50, sell it for $1.00, the collect the sales tax on $1.00, .06 then pay taxes on the profit .50
Businesses do not pay taxes. If I go to the gas station and pick up a $1.00 candy bar and take it to the register the total comes to $1.06 . The state taxes the RETAILER 6% on sales. The state doesn't care if the retailer adds the 6% at register or not. The state just wants its 6% tax on sales. Business taxes are the same except the tax is built into the price instead of tacked onto the sale.
Lol what?
Do you think they buy the candy bar for $1.00? No, they buy it for .50, sell it for $1.00, the collect the sales tax on $1.00, .06 then pay taxes on the profit .50
Good lord 🤦♂️
Good lord! Do you think businesses just say "oh well" and eat the taxes without factoring them into pricing?