Sales Tax

A sales tax is a tax paid to a governing body by a seller for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase.

Laws may allow sellers to itemized the tax separately from the price of the goods or services, or require it to be included in the price (tax-inclusive). The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale.

When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax.

Often laws provide for the exemption of certain goods or services from sales and use tax.

Read more about Sales Tax:  Types, Effects, Sales Tax Avoidance

Other articles related to "sales tax, tax, sale, sales":

San Francisco County Transportation Authority
... of San Francisco's the first local sales tax for transportation, which began in 1990 and was passed by voters in 1989 as Proposition B ... Beginning in 2004, SFCTA became the administrator of the Proposition K sales tax for transportation approved in November 2003, which substituted the original 1989 tax ... The 2003 Proposition K is a USD 0.005 local transportation sales tax program ...
Colorado Amendment 51 (2008) - Estimate of Fiscal Impact - State Spending
... provided to people with developmental disabilities and to implement the sales tax increase ... These costs cannot be paid from the new sales tax money, but a portion will be paid with funding from the federal government ... The new sales tax money is expected to pay for some of these costs, with the remainder funded by the federal government ...
Sales Tax Audit
... A sales tax audit is the examination of a company’s financial documents by a government's tax agency to verify if the proper amount of sales tax has been remitted to ...
Sales Tax Avoidance
... Businesses can reduce the impact of sales tax for themselves and their customers by planning for the tax consequences of all activities ... Sales tax avoidance often includes the following Designing invoices to reduce the taxable portion of a sale transaction ... for example, a delivery charge is exempt from the tax when stated separately from handling and other taxable charges ...
Suits Index - Types of Tax - Sales Tax
... Sales taxes are generally charged on each purchase, with no low income exemption ... Additionally, lower income tax units generally spend a greater proportion of income on taxable purchases, while higher income units will save or ... Therefore, sales taxes are generally regressive, and have a negative Suits index ...

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