Not Financial Advice: The amount charged will vary from state to state. Find out state and local sales tax rates in 2016 at Taxfoundation.org
As with Washington with a combined state and local sales tax rate of 8.90%, something that costs $125 has a total tax of $11.11. Therefore the total cost of the item including tax is $136.11.
Sales taxes are just one part of an overall tax structure and should be considered in context. For example, Washington State has high sales taxes but no income tax, whereas Oregon has no sales tax but high income taxes.
While many factors influence business location and investment decisions, sales taxes are something within policymakers' control that can have immediate impacts.
Check out the Sales Tax Calculator to compute the amount of sales tax and total purchase amount given the price of an item and the sales tax rate percentage at Convertit.com.
Unlike investing, saving money on purchases doesn't require any specialized training and is an easy way for anyone to stretch their budget a little farther.
No matter what your income level, you can give yourself more breathing room by becoming a savvy shopper. Here are five tips to help you get started shared by Investopedia.com.