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To: lakeprincess

All your gasoline, grocery, general retail,etc. taxes rounded up to the nearest nickel? A %6 tax would become ten.


6 posted on 02/13/2009 7:53:13 AM PST by allmost
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To: allmost

“A %6 tax would become ten.”

Actually, it only would if you purchase something for a dollar. As far as purchase greater that $1, it would never be more than 4 cents per purchase.

For example, if you bought something for $52.46, with 6% sales tax it would come to $55.61. Without a penny you would have to round (up I assume) to $55.65. The effective tax rate on that purchase is 6.08%, not 10%.


14 posted on 02/13/2009 8:01:56 AM PST by samson1097
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