TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

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A Tennessee auctioneer sells $200,000 worth of items at auction. The state sales tax rate is 7% and the local option tax is 2.75%. What is the total sales tax that must be collected (on taxable items)?

$$14,000 $$19,500 $$5,500 $$9,750

Correct Answer:

$$19,500

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