Difference between revisions of "Sales tax"
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| − | '''Sales tax''' is [[tax]] on buying a [[good]]. Sales tax is based on a percentage of how much is spent. Sales taxes first became widespread in the U.S. in the 1930s, and remain a major source of state and local revenue. Services are usually not taxed, nor are purchases of [[good]]s over the [[Internet]]. | + | '''Sales tax''' is [[tax]] on buying a [[good]]. Sales tax is based on a percentage of how much is spent. Sales taxes first became widespread in the U.S. in the 1930s, and remain a major source of state and local revenue. Services and medicines are usually not taxed, nor are purchases of [[good]]s over the [[Internet]] unless the company maintains a physical presence in the same state as the purchaser. Food may or may not be taxed. |
[[Category:Business]] | [[Category:Business]] | ||
[[Category:Taxation]] | [[Category:Taxation]] | ||
Revision as of 15:33, February 14, 2018
Sales tax is tax on buying a good. Sales tax is based on a percentage of how much is spent. Sales taxes first became widespread in the U.S. in the 1930s, and remain a major source of state and local revenue. Services and medicines are usually not taxed, nor are purchases of goods over the Internet unless the company maintains a physical presence in the same state as the purchaser. Food may or may not be taxed.