LK,
When I owned a convenience store, my mark-up was usually 30%, and I paid sales tax (retail) on the 142% (roughly) of the wholesale price.
The way I understand WV tax law:
Now if I buy an item for $10 + $0.60 Tax from BGE, and sell it for $15, I'm really selling it for $14.15 + 6% tax, which is $.85 in tax and I owe (or am fraudulent for) $0.15 in Consumer Sales tax.
Labor other than Capital Improvement is another issue.
[This message has been edited by sparky66wv (edited 03-13-2005).]
