Recent Examples of sales tax from the Web
The owner of a Bellevue restaurant pleaded guilty Wednesday to using software that deleted transactions and allowed her to steal around $395,000 in sales taxes.
The result: India’s current account deficit is worsening again, threatening the outlook for an economy already straining under the fallout of a snap ban on high-value notes a year ago and a new sales tax.
Under that agreement, Airbnb hosts on Oct. 1 will begin to see a 6 percent state sales tax and 1 percent transient room tax automatically added to all stays.
Last year, the Bear River plan re-entered the spotlight when the state legislature passed a bill creating a funding mechanism for the project through a sales tax.
On Tuesday, the Mobile City Council began formal consideration of a move to extend a temporary 1-cent sales tax with an often-bumpy history.
The firm now pays sales tax in every American state that has one.
In exchange, property owners would get some relief through a $2 million tax abatement and the sales tax would expire at the end of 2017.
In 2014 Kansas City voters approved a 20-year extension of a quarter-cent sales tax to support the fire department.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'sales tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of sales tax
Financial Definition of SALES TAX
What It Is
Sales tax is a consumption tax levied on goods and services purchased at the retail level, paid by the consumer and submitted by the retailer to the governing tax authority.
How It Works
In the United States, the sales tax is imposed on retail items. It is paid by the consumer to the retailer, usually as a percentage of the retail cost, who submits the payment to the state.
Sales tax rate and application varies dependant on the state. Sales tax can be applied by counties, cities and regions in addition to the state sales tax.
Why It Matters
The imposition of this tax affects the consumer directly on each purchase for nonexempt goods and services. Some consumers may find it advantageous to "cross the border" to pay less taxes than in their home state for larger purchases.
The Organization for Economic Cooperation and Development (OECD) has found that sales taxes are one of the least harmful types of taxes for the economy; they minimally hinder growth and investment.
Many consider sales tax to be regressive, as it is a larger burden and percentage of income for low-income earners.
The only federal sales tax was imposed in 2010 via the health care reform law which taxes a 10% federal sales tax on indoor tanning services.
SALES TAX Defined for English Language Learners
Definition of sales tax for English Language Learners
: a tax that is added to the price of goods and services
SALES TAX Defined for Kids
Definition of sales tax for Students
legal Definition of sales tax
Seen and Heard
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