SALESTAX

Sales tax

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

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sales tax

Noun

  1. 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.


The above text is a snippet from Wiktionary: sales tax
and as such is available under the Creative Commons Attribution/Share-Alike License.

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