Sales Tax

Business / Taxes / Sales Tax: A sales tax is a tax imposed by state and local governments on transactions that occur within their jurisdictions. The taxing authority determines which transactions are subject to tax and the flat rate at which the tax is calculated. Some countries, though not the United States, impose a national sales tax often called a value added tax (VAT).

Other Words for Tax

Tax Noun Synonyms: assess, exact, demand, charge, impose or levy a tax (on), tithe
Tax Adjective Synonyms: levy, impost, duty, tariff, assessment, tribute, toll, excise, customs, charge, contribution, scot, tithe, octroi, cess, rate(s), dues
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Net Of Tax

Business / Accounting / Net Of Tax: The price less any tax. Eg. if you sold some goods for $12 inclusive of $2 sales tax, then the 'net of tax' price would be $10 MORE

Sales Tax Payable

Business / Accounting / Sales Tax Payable: Money collected from customers for sales taxes, that must be remitted to local governments and other taxing authorities. MORE

Regressive Tax

Business / Finance / Regressive Tax: A tax system that provides that average tax rates decrease with increases in individuals' income brackets. MORE

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