sales tax

Related Terms
Ad valorem tax levied on sale of goods or services. Unlike a value added tax (VAT, levied only on the net increase in price at every point a good or service moves from one seller to the next purchaser) sales tax is a cost and involves double taxation (tax on tax) because it is imposed on the gross price (seller's net cost price + sales-tax paid by the seller + seller's profit) at each point of sale.

Use 'sales tax' in a Sentence

There was a sales tax that we had to pay to the state which was only a small amount of money compared to our profits.
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I didnt realize that I had to also pay the sales tax and that made me angry because I only had a little bit of money.
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When you are purchasing a lot of a product don't forget to factor in the sales tax to include in part of your budget.
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