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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References in periodicals archive ?
In the 91st General Assembly earlier this year, a bill was introduced in the Senate that would have required out-of-state online retailers to collect sales taxes and remit them to the state.
The auditor initiated an audit and the owners got stuck for sales taxes for food consumed at the tables for the entire time that they had the tables out front.
On April 23, 1996, Finance Minister Paul Martin and Revenue Minister Jane Stewart announced a "Memorandum of Understanding" among the federal government and the provinces of Nova Scotia, New Brunswick, Newfoundland and Labrador to initiate a formal process for harmonization of the federal Goods and Services Tax (GST) and the provincial sales taxes in those provinces.
Shapiro, who represented the Empire State Building, the refund liability for sales taxes goes back three years for those who made payments voluntarily and only two years fo those who were actually pursued by the state for these taxes.
First, they can deduct the actual total general state and local sales taxes paid if they have receipts.
speaking at the Cato Institute in favor of a national sales tax, was asked how much he paid in local sales taxes last year and he didn't know.
Add to this the fact that some companies aren't even certain in which states they are required to file (due to the potential for differing interpretations of nexus) and it's easy to see why confusion is more commonplace than thorough monitoring of state sales taxes.
In May 2007, the county plans to seek voter approval for an extension of its other one-half percent sales taxes that expires at the end of 2007.
The average sales tax rate for the 45 states that charge sales taxes rose to 5.
5% sales tax has been in place only since 1996, the county has a lengthy historical record of steady growth in sales taxes that are used for own-purpose operations.
Without explaining complicated tax laws and formulas, the effects of e-commerce on sales taxes can be easily understood.