sales tax

sales tax definition - business

sales tax

A government levy on retail sales that is collected by retailers at the point of sale. A sales tax may be structured to exempt certain classes of products (groceries, drugs) or services.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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