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Form 982 for Murrieta California: What You Should Know

If you are a seller at a property with a sale price of 1,000 or more, fill out the relevant provisions in section D of the form. If you must have sales tax to be effective, you have to file a separate return to the state where the sale occurred. You should also fill out the corresponding subsection of section F on the return when tax was paid by the consumer (see Form 1040 line 1-C). For example, you can calculate the state and local sales and use taxes from the following table: You cannot deduct state sales and use tax as an itemized deduction in the taxable year. Thus: If state, county, etc. tax applies, see the following rules: State sales and use tax does not apply. Instead, the taxable amount on line 30 is calculated by adding up the amount of sales and use taxes imposed by a host of counties, cities, towns, and special districts. Line 30 is also used by the state to determine tax liability. State sales tax applies if tax on state sales is more than what is subtracted from the taxable amount on line 29. The taxable sales under line 30 plus the state sales tax will be greater than the taxable portion of line 29. In other words, it is impossible to deduct the amount of state tax on the sales of taxable items (1,000+ tax plus the state sales tax of .05%=.10). It is easier, however, to deduct sales tax on non-taxable items (1-50.00). You cannot claim a state tax deduction for either the sales to consumers in California or the sales tax that is included in the sales price. It is a seller's permit requirement. You can still subtract state and local use taxes from the amount to be deducted on line 29(1). The amount of sales tax to be used on line 29(2) will be computed from the sales price. The amount of tax to be deducted from the sales amount is greater than the amount of tax that is included in the sales price. In this case, you must use the total sales price to determine the amount of tax to use on line 29(2). The seller of the taxable product (sale price) may include any non-taxable expenses (but not any exempt expenses) in determining the total excise tax and the amount of sales tax to be subtracted on line 29(2).

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