Roxy operates a dress shop in arlington, virginia. lisa, a maryland resident, comes in for a measurement and purchases a $1,500 dress. lisa returns to virginia a few weeks later to pick up the dress and drive it back to her maryland residence, where she will use the dress.
assuming that virginia's sales tax rate is 5 percent and that maryland's sales tax rate is 6 percent, what is roxy's sales tax liability?
$75
Explanation:
Data provided in the question:
Cost of the dress purchased = $1,500
Virginia's Sales tax rate = 5 percent
Maryland's sales tax rate = 6 percent
Now,
Roxy's sales tax liability
= Virginia's sales tax rate × Cost of the dress purchased
or
Roxy's sales tax liability = 5% × $1,500
or
Roxy's sales tax liability = $75
answer; no individual buyer or seller has any significant impact on the market price;
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