Is sales tax assumed to be included in event sales

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3 comments

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    IMPLAN Support
    Hi Josue! Thank you for your post. You will not need to deduct Sales Tax prior to running the impact. This is as Sales Tax is part of an industry's payment to Taxes on Production and Imports (TOPI), which is captured in the Tax Impact Report page in results. I hope this answers your question.
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    josue.medellin
    Thanks very much for the prompt response this is great. What if the tax rate is different than the default for a particular product included in TOPI?. For example, if there is an additional excise tax? Thanks in advance, Josue
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    IMPLAN Support
    Hello Josue, While the ratio of TOPI to Output is industry- and place-specific, the split of TOPI into its different categories (sales, property, severance, etc.) is only place-specific. Therefore, a retail industry's payments to TOPI will be split the same way that a manufacturing industry's payments to TOPI are split. Below is an article that discusses IMPLAN's Tax Impact Report. Generation and Interpretation of IMPLAN's Tax Impact Report http://support.implan.com/index.php?option=com_content&view=article&id=419:419&catid=237:237 Regards, IMPLAN Staff

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