Sales-tax definitions

A tax levied on the retail price of merchandise and collected by the retailer.
noun
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A tax on sales of goods and services, usually levied as a percentage of, and added to, the price paid by the consumer.
noun
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A tax that is assessed on products and services purchased by the end user. Sales taxes are assessed by city, county, or state governments and used to fund the activities of the government. Usually the sales tax rate ranges from 4 percent to 8 percent and is added onto the listed price. In Europe, sales tax takes the form of a value-added tax (VAT), which often ranges from 18 percent to 22 percent. It is usually included in the sales price of the good listed on the price tag.
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A percent of the consumer-paid sales price of certain goods in certain states and municipalities.
noun
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A local or state tax imposed as a percentage of the selling price of goods or services payable by the customer. The tax is not recognized as the seller's earnings; the seller only collects the tax and transmits the same to local or state authorities.
noun
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