sales tax

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sales tax,

levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. It may be levied each time a commodity changes hands—as from manufacturer to wholesaler, from wholesaler to retailer—and is then called a transactions, or turnover, tax. Many oppose the tax as being regressive, i.e., as placing a disproportionately heavy burden on the poor; but it yields a large revenue, and governments find it easy to collect. As of 1999, 45 states, the District of Columbia, a number of cities and counties, and many foreign countries levied sales taxes. A modern variant of the sales tax is the value-added taxvalue-added tax
(VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level.
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In addition, five provinces levy retail sales taxes (RST) on some insurance premiums: Ontario, Manitoba, Quebec and, most recently, Saskatchewan along with Newfoundland and Labrador (Table 1).
We have floundered badly in trying to bring any sense of uniformity to state-level retail sales tax bases.
Rather than adopting a retail sales tax, New Deal legislators lowered exemption levels and thereby extended the income tax to a wide swath of American households.
states typically charge identical retail sales taxes on domestic and imported items.
Results reported by Sobel and Holcombe are generally consistent with these conclusions, though unlike Dye and McGuire, these authors estimate short-run elasticities for corporate taxable income as well, confirming the intuition that state corporate income taxes vary significantly more over the business cycle than either the individual income tax or the retail sales tax. (43)
In this study, the definition of a pull factor is the division of the county's per capital retail sales tax receipts by the state's per capita retail sales tax receipts as follows:
This is because any plausible replacement for the income tax would have to involve mass taxation; the interesting question is whether that mass taxation would be direct (as with the current income tax) or indirect (as with a retail sales tax or value-added tax (VAT)).
In prior Congresses, four major types of broad-based consumption taxes have been included in congressional tax proposals: the value-added tax (VAT), the retail sales tax, the consumed-income tax, and the flat tax based on a proposal formulated by Robert E.
The Fair Tax is a single-rate, personal consumption tax (similar to a retail sales tax) collected only once, at the final point of purchase of new goods and services for personal consumption.
Property tax files, local certified budgets, income and retail sales tax data, child care data--all are now available as time series in forms more useful for general policy analysis.
For example, many policymakers have endorsed replacing or modifying the income tax with a flat tax or a national retail sales tax. While the Panel does discuss a national retail sales tax, it concluded that such a tax was unworkable.
In the other provinces that impose a retail sales tax, a business operating a loyalty program that provides its customers with taxable goods or services will have to determine if it is acting as a "promotional distributor" or if it is merely offering the customer a price discount when the rewards are provided to its customer.