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Calculation of Business Tax Gross Sales $ 800,000; including $ 50,000 in sales of services to persons in other states Cash Discounts 12,000 Sales Returns

Calculation of Business Tax

Gross Sales $ 800,000; including $ 50,000 in sales of services to persons in other states

Cash Discounts 12,000

Sales Returns 16,000

Bad Debts 6,000

Company is a retailer whose dominant business activity is sale of electrical supplies.

Using the TN Business Tax Form and Resource notes as a guideline, calculate the business tax for the year (show calculations).

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