Recent Examples of sales tax from the Web
In 2008, county voters approved a $1 billion sales tax hike for a variety of transportation projects, including one that would widen Highway 101 from Santa Barbara south to Carpinteria.
Over the past five years, Florida’s sales tax revenues have grown 27%.
While Amazon has since come to agreements with many states about paying sales tax, Bezos has long viewed it as an unnecessary tariff.
Local and sales tax revenues generated by Qualcomm total more than $13 million.
Delta was seeking a $50 million sales tax exemption on jet fuel.
In order to hold cities and counties harmless, their share of sales tax revenues would increase from 11.5 percent to 13.2 percent.
The money, partly the result of higher sales tax revenues from rebuilding efforts after Hurricane Irma, will give lawmakers more room to work out a budget deal in the final four weeks of session.
Half of the $12 million project is being funded by the economic development corporation, which receives a little more than $1.5 million a year from a portion of the city's 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
Seen and Heard
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