sales tax
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a tax based on the cost of the item purchased and collected directly from the buyer
sales tax meaning & definition 1 of sales tax.
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a tax imposed upon the retail sale of goods or the sale of services, usually collected by the seller at the time of purchase; -- it is typically calculated as a percentage of the price of the object sold, being commonly from 3% to 7% of the base price.
sales tax meaning & definition 2 of sales tax.
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A local or state tax imposed as a percentage of the selling price of goods or services payable by the customer. The tax is not recognized as the sellers earnings; the seller only collects the tax and transmits the same to local or state authorities.
sales tax meaning & definition 3 of sales tax.
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A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Comparison with sales tax for key differences.
sales tax meaning & definition 4 of sales tax.
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Sales tax is a government-imposed charge on the sale of goods and services, usually a percentage of the price paid by the buyer to the seller. It is collected by the merchant at the point of sale and later paid to the government. The rate of sales tax can vary depending on the region and the type of goods or services sold.
sales tax meaning & definition 5 of sales tax.
