sales tax
Retail government levy
Sales tax is a percentage added to the price of goods and sometimes services, collected by the seller and remitted to a government.
In the United States, sales tax rates vary by state and locality, and some states have no sales tax at all.
Unlike value-added taxes common in other countries, American sales tax applies only at the final point of sale to consumers.
The total came to $53.49 after sales tax.
Incremental consumption tax
- value-addedIncreased worth through enhancement
- exciseRemove by cutting
- gross receiptsEarnings before expenses
- harmonizedBrought into agreement
Release from requirement
- holidayDay of rest
- rateMeasured speed or charge
- reformImprove by correcting faults
- increaseGrowth in amount
reduction · revenue · regressive · progressive · fairness · burden · economic impact · legislation
Payment completion process
- registerRecord officially; vocal range
- purchaseGoods obtained for payment
- transactionExchange of goods/money
- consumerOne who acquires goods
merchant · retailer · e-commerce · marketplace · online · brick-and-mortar · vendor · buyer
Funds sent elsewhere
- filingStoring documents systematically
- reportingConveying documented information
- quarterlyFour times annually
- monthlyOccurring each lunar cycle
annual · due date · payment · submission · audit · compliance · enforcement · penalty
VAT
Incremental consumption tax
- value-addedIncreased worth through enhancement
- exciseRemove by cutting
- gross receiptsEarnings before expenses
harmonized · specific · general · selective
exemption
Release from requirement
increase · reduction · revenue · regressive · progressive · fairness · burden · economic impact · legislation · ballot
checkout
Payment completion process
- registerRecord officially; vocal range
- purchaseGoods obtained for payment
- transactionExchange of goods/money
consumer · merchant · retailer · e-commerce · marketplace · online · brick-and-mortar · vendor · buyer · goods
remittance
Funds sent elsewhere
- filingStoring documents systematically
- reportingConveying documented information
- quarterlyFour times annually
monthly · annual · due date · payment · submission · audit · compliance · enforcement · penalty · liability
percentage
Proportion out of hundred
amount · taxable · exempt · threshold · bracket · base · multiplier · inclusive · exclusive · added
- taxeswithholding, VAT, GST, customs duty, FICA
- chargesfees, surcharges, levies, service charges, service fees
- economic policymonetary policy, fiscal discipline, fiscal stimulus, fiscal restraint, tariff
- taxationtaxable income, VAT, withholding, deductions, deduction
- US TaxationIRS, withholding, deductions, income brackets, AMT
- government revenuecustoms duties, fees, tolls, fines, lottery revenue
sales taxincome tax
Government charge on earnings
progressive tax · property tax · wealth tax · estate tax · inheritance tax
sales taxtax-free
Exempt from duties
duty-free · tax exemption · tax holiday · zero-rated · untaxed
tax, sale, sales, seller, sells, taxes, salesperson, resale, saleable