Essential Economics for Politicians

espola said:
How do they know how much sales tax to send in before the sale has taken place?
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That part is easy. Everything is calibrated on the pumps, tanks and deliveries.

The important thing, (and this is where the tax pro comes in) is to know if the state is going to pin the sales tax to existing inventory before the new tax is implemented.
If they don't, then a gas station with four 10,000 gallon tanks could stand to save up to 2,000 dollars by filling up, and paying the tax before the deadline.
 
Ricky Fandango said:
That part is easy. Everything is calibrated on the pumps, tanks and deliveries.

The important thing, (and this is where the tax pro comes in) is to know if the state is going to pin the sales tax to existing inventory before the new tax is implemented.
If they don't, then a gas station with four 10,000 gallon tanks could stand to save up to 2,000 dollars by filling up, and paying the tax before the deadline.
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Nice theory. Is anyone actually doing that?
 
You and rat may want to consult a tax pro and bring it up before you open your new station.

My names are free if you'd like to hear them.
A tax pro you will have to pay.
 
Hüsker Dü said:
The plumber is simply spinning like they all do when cornered by their own words.
t 101, first semester tu.
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Trying to condense what I read in that article - gasoline is taxed in at least three ways - Federal excise tax per gallon, Cal state excise tax per gallon, and sales tax as a percentage of sale price. I didn't realize until I read it that the state sales tax rate for gasoline is different than that for general retail purchases (I think that's what it says) and that there is some sort of annual adjustment of state excise tax and gasoline sales tax rates for some purpose that is not clear to me. I'll have to read it again.
 
espola said:
Trying to condense what I read in that article - gasoline is taxed in at least three ways - Federal excise tax per gallon, Cal state excise tax per gallon, and sales tax as a percentage of sale price. I didn't realize until I read it that the state sales tax rate for gasoline is different than that for general retail purchases (I think that's what it says) and that there is some sort of annual adjustment of state excise tax and gasoline sales tax rates for some purpose that is not clear to me. I'll have to read it again.
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I think, (if I may) it may be prudent to do as I suggested earlier and hire a tax professional before opening your new "Huspola Gas'N-Go"
 
Ricky Fandango said:
I'm looking forward to seeing the opening day product.
I have all kinds of ideas.
It would be smart for them to pick my brain.
I see myself as a kind of self styled marketing maven.
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Yeah, you and t, brilliant business minds . . . I mean really, who goes belly up running a casino? Most res gaming started in tents and grew to destination resorts, but not t, he's too stupid to do well so he lies about it, like you.
 
Hüsker Dü said:
Yeah, you and t, brilliant business minds . . . I mean really, who goes belly up running a casino? Most res gaming started in tents and grew to destination resorts, but not t, he's too stupid to do well so he lies about it, like you.
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What, I lie about being a plumber?
Who lies about being a plumber?
I'm ...
I don't know,..

You got me.
 
Hüsker Dü said:
Yeah, you and t, brilliant business minds . . . I mean really, who goes belly up running a casino? Most res gaming started in tents and grew to destination resorts, but not t, he's too stupid to do well so he lies about it, like you.
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t can’t do res gaming. He’s only 1/1032nd cherokee.
 
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