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 itemize the tax separately from the price of the goods or services, or require it to be included in the price. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.