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Sales Tax

What Does Sales Tax Mean?
A tax imposed by the government at the point of sale on retail goods and services. It is collected by the retailer and passed on to the state.

Investopedia explains Sales Tax
It is based on a percentage of the selling prices of the goods and services and set by the state.

Related Terms

Clearance Certificate
Direct Tax
Flat Tax
Goods and Services Tax - GST
Indirect Tax
Local Tax
Sin Tax
More Related Terms

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