Recent Examples of sales tax from the Web
State sales tax revenue jumped 12.3 percent from $2.4 billion in December 2016, according to the comptroller’s office.
The Council approved creation of a community improvement district, with a one-cent sales tax increase that takes effect April 1, 2018, intended to assist with the redevelopment.
Next year, lawmakers will once again debate a bill designed to help the state capture more online sales tax revenue.
Daves and Finance Director Paul Wesch have repeatedly warned that sales tax revenues are flat or declining, thanks in part to an ongoing shift to online shopping.
With diesel around $3 a gallon, the sales tax increase works out to about 12 cents per gallon.
Retaining his two-thirds majority in parliament would boost his chances of changing Japan’s pacifist constitution, as well as approving gambling resorts and pushing forward with a sales tax increase.
The study said commissioners should consider two ways to pay for pre-K. One is a sales tax increase of a quarter-cent, which would have to be approved by voters.
Taxpayers will be kicking in upward of $600 million into the fund each year, with 10s of millions of dollars more from sales tax revenue.
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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