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Quotes About Sales Tax
Quotes about Sales_Tax
Sales tax is a consumption tax charged at the point of purchase for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale. In the words of Robert Strauss, “If you increase the sales tax... everybody would be taxed.” A portion of the sale may be exempt from the calculation of tax, because sales tax rules usually contain a list of exemptions. Laws governing sales tax may require it to be included in the price (tax-inclusive) or added to the price at the point of sale. Sales taxes are collected from the buyer by the seller, who remits the tax to a government organisation. Sales tax is also charged on the sale of services. Ideally, a sales tax would have a high rate, be difficult to avoid, and be simple to calculate and collect.