Easily Remove Calculations in the Bulk Sale Agreement

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How to Remove Calculations in the Bulk Sale Agreement

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- Hey everyone, my name is Paul Vojchehoske and welcome to the Real Estate Classroom YouTube channel. In todays video, were gonna discuss a real estate math problem or a real estate math calculation that you have to know for your real estate exam. Its called seller proceeds from the sale and thats what Im gonna show you how to calculate in todays video, so lets get to it. (upbeat music) So in todays real estate math video, Im gonna show you how to calculate seller proceeds. It is a function that you have to know as a real estate professional when youre listing properties, but its also something you have to know for your real estate exam especially if youre taking the PSI exam. If youre taking the PSI exam, I guarantee you theres a high probability that youre gonna have a question or two on calculating seller proceeds. So first of all, what is a seller proceed? It is essentially just the money that the sellers gonna get from the sale of their home, hopefully. Its really

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is exempt from California sales tax?

Some items are exempt from sales and use tax, including: Sales of certain food products for human consumption (many groceries) Sales to the U.S. Government. Sales of prescription medicine and certain medical devices.

What is California regulation 1669?

A dealer who rents property to sales representatives is regarded as making a continuous sale of the property and must collect and pay tax on the rental receipts unless tax has been paid measured by the purchase price of the property rented.

How to fill out California resale certificate?

Resale Certificates The name and address of the purchaser. The purchasers sellers permit number (unless they are not required to hold one1). A description of the property to be purchase. An explicit statement that the described property is being purchased for resale. The date of the document.

How do you calculate original price before tax?

The original price of an item before sales tax.Sales Tax Calculator Subtract the listed item price from the total price you paid. (Example: Total price $545.00 - listed price $500 = $45) Then, divide the difference amount ($45) by the listed price. (Example: $45 / $500 = 0.09) Finally, multiply that number by 100.

What are bulk sales laws designed to prevent?

California Bulk Transfer Law The bulk transfer law is designed to prevent a merchant from defrauding his or her creditors by selling the assets of a business and neglecting to pay any amounts owed the creditors.

What is the California Regulation 1667?

The law provides that for the purpose of the proper administration of the sales and use tax and to prevent evasion of the sales tax it shall be presumed that all gross receipts are subject to the tax until the contrary is established.

What is Regulation 1670 sales tax?

The tax applies to sales of advertising material, display cases, counter display cards, racks, and other similar marketing aids to persons acquiring such property for use in selling other property to customers.

How do you remove sales tax from total?

How the Sales Tax Decalculator Works Step 1: take the total price and divide it by one plus the tax rate. Step 2: multiply the result from step one by the tax rate to get the dollars of tax. Step 3: subtract the dollars of tax from step 2 from the total price. Pre-Tax Price = TP [(TP / (1 + r) x r] TP = Total Price.

What is Section 6367 of California sales and use tax law?

6367. Occasional sales. There are exempted from the taxes imposed by this part the gross receipts from occasional sales of tangible personal property and the storage, use, or other consumption in this state of tangible personal property, the transfer of which to the purchaser is an occasional sale.

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