Recent Examples of sales tax from the Web
The referendum called for $5.2 billion upfront—drawn from hotels, businesses, car rentals, and sales taxes—for construction.
Poynton said the new development also will increase both property and sales taxes on the currently dormant property.
Most received direct financial help from their state governments or the states authorized special sources of funding, such as increased court fees or temporary sales taxes, to pay off the debt.
Turner proposes to spend $2.5 billion from the general fund, which is supported primarily by property and sales taxes and funds most core services, such as the police and fire departments, parks, libraries and trash pickup.
While Alabama has a low top-income tax rate, sales taxes are relatively high.
Dallas, Houston and Austin residents tax themselves a full cent per dollar in local sales taxes to support mass transit, while San Antonio has stayed with just a half-cent.
Four years ago, taxpayers approved reallocating an eighth of a cent of the city’s sales tax to what was then deemed to be a $56 million project.
State government took over most of the financing for schools and raised income and sales taxes to pay for it.
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.
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
: a tax that is added to the price of goods and services
SALES TAX Defined for Kids
Seen and Heard
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