answersLogoWhite

0


Best Answer

No federal sales tax is imposed on home sales at this time.

If you sell your home and have a long term capital gain it would be possible that you would have some federal income tax to pay on the sale of your home or house or other business property.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Will a 3.8 percent federal sales tax be imposed on home sales?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If 36 home sales 12 percent of what number of home sales?

12% of 36 = 4.32 home sales


What percent of milk sales in 1965 were by home delivered milk?

25%


Need help with appendix c mat 117?

a. Write Home Depot's 2002 sales and 2006 sales in scientific notation. 5.82*10^8 You can find the percent of growth in Home Depot's sales from 2002 to 2006 by following these steps: · Find the increase in sales from 2002 to 2006. · Find what percent that increase is of the 2002 sales.


Will there be a 3.5 percent sales tax when you sell your home in new health care bill?

Yes


What state has an 8 percent sales tax on food?

I do not think think that you will find any state that would have a 8% sales tax on food that you take home to prepare yourself. Combining the state sales and local sales taxes could be a different story.


Sales Tax?

A business that sells products at retail will be required to collect sales tax from buyers and pay it to the state tax department. Sales tax is also collected in some cases on items offered for rent. Sales tax can also be collected by city and county governments. The federal government has never collected a sales tax by name, although it has imposed excise and use taxes throughout national history. Generally, businesses that sell only wholesale goods will not be collecting sales tax. Also, sales tax need only be collected on sales made within the state where the seller has a location. Remote sales by out of state sellers are not subject to sales tax. Furthermore, in most states, certain items are exempted in whole or in part from sales tax. Food purchased at a grocery store for home consumption, for example, is exempted from sales tax in many states, although more and more, states are imposing a progressive sales tax rate even on grocery food. There are also certain types of tax which resemble sales tax in their application and effect, but which are technically not sales taxes. These include excise taxes, imposed on a narrow range of items, including gasoline, liquor, and rental cars; use tax, intended for imposition on users of goods purchased without sales tax, such as from out of state; and securities turnover excise tax, imposed on the sale of securities. A business must be licensed or authorized to collect sales tax. Sales tax permits are issued by a state agency, such as the Department of Revenue or another similar agency. Cities may also issues sales tax licenses.


How successful were Centex's non-home-building businesses?

44 percent of the company's sales and 50 percent of its operating profits in 1999. Many analysts credited his expansion tactics with helping the company to remain strong through a subsequent falloff in home building


Do you pay sales tax when buying a home in Iowa?

In my state there is no sales tax on a home sale.


Is there a sales tax on home sales?

Yes there isn't a Federal sales tax but the individual States and Cities have different ways of taxing the sale. For instance in NC there is a Transfer tax when you sell your home. You can clear all your doubts after consulting a real estate agent like Gary Aver RE/MAX United. They suggest the real data about each product which will help you to evaluate the budget.


When was Home Federal Bank created?

Home Federal Bank was created in 1929.


What is Home Federal Bank's population?

Home Federal Bank's population is 369.


What were new-home sales in America in 2001?

New-home sales totaled nearly 975,000 in 2001