Magento Expert Forum - Improve your Magento experience
-
Single Article Tax of Tennessee in Magento?
I want to Implement Single Article Tax of Tennessee in Magento.
DETAILS
There are only 3 products that we have that would fall into this category and the only time THESE 3 products would fall into that category is if they are sold to a customer in the state of Tennessee. The single article tax amount for TN is $1,600.00 which is 9.75%, the remaining amount would only be taxed at 7%.
The three items would be SKU# 126 $3,995.00 SKU# 146 $5,495.00 SKU# 156 $6,295.00
According to the TN Single Article Code, we can only charge our state and local tax (9.75%) on the first $1,600. Anything thereafter is charged only the state rate of 7%.
For example, on a 126, the calculation would be:
$3,995, less $1,600 comes to $2,395.00 The first $1,600 is taxed at regular rate of 9.75 percent, which comes to $156.00
The remaining $2,395 is taxed at the rate of 7%, which comes to $167.65
Total Tax is $323.65
Note: I want to setup this in magento tax. Can anybody help me?
View more threads in the same category:
-
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
Bookmarks