Recent Examples of sales tax from the Web
Even with the sales tax increase, TOPS was still cut for the 2016-2017 school year.
State sales tax, county sales and use taxes, and other resort taxes are included too.
Emmett also floated the possibility of large-scale buyouts, banding with surrounding counties to create a regional flood control district and seeking authority from the state to levy a sales tax to pay for what likely would be a massive initiative.
Alaska Chamber president Curtis Thayer said the state has no sales tax or personal income tax, which would be valuable features for Amazon's workforce.
The state authorizes school boards representing 51 percent of a county's student population to place a sales tax of up to 1 percent on the ballot in the county.
Taxpayers can deduct property taxes as well as either income or sales taxes.
The board, however, can’t impose the sales tax and assessments and start collecting revenue until the rest of the funding has been obtained.
And most importantly, Ikea will contribute millions of dollars to the local economy in sales taxes and in-town spending at other stores.
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
What made you want to look up sales tax? Please tell us where you read or heard it (including the quote, if possible).