You are here: DIME Home > Tax > How do I know what is taxable?

How do I know what is taxable?

Nearly all tangible personal property transferred for value is taxable. This includes property purchased for lease or rent. Most goods, wares, and merchandise are taxable in united state.

Author: Nashib Umer
Date: Mar 11, 2010 - 12:45:11 PM

Printer friendly page

Nearly all tangible personal property transferred for value is taxable. This includes property purchased for lease or rent. Most goods, wares, and merchandise are taxable in united state. Services associated with the sale of tangible personal property may also be taxable. Only installation and repair/reconditioning service is not taxable if it is separately stated on the invoice. Most food purchases of unprepared or uncooked food is not taxable. You may write to the InfoTaxSquare.com about the taxability of a specific item.

Retail sales of tangible personal property includes, but not limited to:

• furniture, appliances, and lighting fixtures;
• machinery and equipment, parts, tools, and supplies;
• computers and prewritten (canned/off-the-shelf/standard)
• computer software;
• motor vehicles;
• boats and yachts;
• fuels (e.g., motor fuel, diesel motor fuel, and kero-jet fuel);
• candy and confections;
• bottled water, soda, and beer;
• cigarettes and tobacco products;
• cosmetics and toiletries;
• jewelry;
• artistic items such as sketches, paintings, and photographs;
• animals, trees, shrubs, plants, and seeds;
• coins and other monetary items, when purchased for purposes
• other than for use as a medium of exchange;
• building materials; and
• prepaid telephone calling cards.

Sales of specifically enumerated services include, but not limited to:

• providing certain information services;
• processing, assembling, fabricating, printing or imprinting tangible;
• personal property furnished by a customer who did not purchase the tangible personal property for resale;
• installing, maintaining, servicing, or repairing tangible personal property that is not held for sale by the purchaser of the service in the regular course of business;
• storing tangible personal property that is not being held for sale;
• renting safe deposit boxes, vaults, and similar storage facilities;
• maintaining, servicing, or repairing real property both inside and outside buildings;
• providing parking, garaging, or storing services for motor vehicles;
• interior decorating and designing;
• protective or detective services; and
• entertainment or information services provided by means of telephone or telegraph.

Other Taxable Items include, but not limited to:

• Sales of gas, electricity, refrigeration and steam;
• Sales of gas, electric, refrigeration and steam service;
• Sales of telephony and telegraphy;
• Sales of telephone and telegraph service (including telephone answering services, facsimile transmission services, and cellular telephone services);
• Sales of food and drink for on premises consumption, for example, when sold by restaurants and taverns;
• Sales of food and drink when sold by caterers;
• Sales of heated food and sandwiches;
• Rent for occupancy of hotel or motel rooms (including bed and breakfasts, boarding houses, guest houses, etc);
• Admission charges to places of amusement, other than live dramatic or musical arts performances, motion picture theaters, participatory sporting events, or live circus performances;
• Dues, including initiation fees, paid to social or athletic clubs when the dues are more than $10 per year; and
• Charges of a roof garden, cabaret or other similar place.
• furniture, appliances, and lighting fixtures;
• machinery and equipment, parts, tools, and supplies;
• computers and prewritten (canned/off-the-shelf/standard)
• computer software;
• motor vehicles;
• boats and yachts;
• fuels
• candy and confections;
• bottled water, soda, and beer;
• cigarettes and tobacco products;
• cosmetics and toiletries;
• jewelry;
• artistic items such as sketches, paintings, and photographs;

Source http://www.infotaxsquare.com

View all articles by Nashib Umer

Link to this article:

Code to copy:

<a href="http://www.dime-co.com/tax/How-do-I-know-what-is-taxable.shtml">How do I know what is taxable?</a>

---

Search for articles: Advanced Search

Recommended Associates

Latest Articles in All Categories

Putting Up a Small Commercial Printing Business

So You Might Be Unemployed And Desire To Become A San Francisco Real Estate Investor Now

Meditation and Mindfulness: Dealing With Emotion

CPA Websites: Five Essential Ideas for Composing Convincing Articles

Set Goals In Order to Come Up With Your Action Plan

Is the Air in Your Home Safe to Breathe?

Coarse Fishing Tackle Review: The JW Young 13ft Trotter Rod

Section 1031 Exchanges For San Diego Real Estate Investors

Phoenix Real Estate Investing For Highest Possible Earnings

Legendary are the Volk Racing TE37 Wheels

Developing the Next Generation Wall Station (ChaseDesk™) for Healthcare - A Case Study

What are step down transformers?

Introducing Sharehype, the Revolutionary Tool for Online Marketers

Rewards To Shopping For Austin Real Estate On The Web

Hydroponics for Beginners

Do you write?

Would you like submit your articles and have them approved on a priority status? Find out more about how you can become a Priority author for pennies a day! Click here.

News Feed

Dime-co.com Home

Business (9328)

Computers & The Internet (5740)

Entertainment (1348)

Family (958)

Finance (1963)

Health (4246)

Home and Living (6670)

Marketing (6113)

Shopping & Product Reviews (2624)

Sports (694)

Travel and Vacations (1689)

Video Articles (1)

Editors Pick (1)