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Sales Tax
(redirected from Retail sales tax)

    Also found in: Legal, Acronyms, Encyclopedia, Wikipedia 0.07 sec.
Sales Tax
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.

Notes:
It is based on a percentage of the selling prices of the goods and services and set by the state.

Sales tax
A percentage tax on the selling price of goods and services.


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