Tax Tip: New State Sales Tax Calculator

From IRS.gov:

The Sales Tax Calculator is another interactive tool on the IRS.gov web site designed to help make it easier for taxpayers to figure their taxes,” said IRS Commissioner Mark W. Everson.

Taxpayers who itemize deductions on Schedule A of the Form 1040 in 2006 have the option of deducting the amount of state and local sales taxes paid instead of deducting their state and local income taxes paid. Taxpayers cannot take a deduction for both sales and income taxes.

The Tax Calculator is anonymous, you don’t have to enter your name or SSN. —MEGHANN MARCO

State Sales Tax Calculator [IRS]