What is sales tax?

Ad valorem tax levied on sale of goods or services. Unlike a value added tax (VAT, levied only on ...

	Tuesday, April 7, 2015 sales tax   Term of the Day sales tax 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 ... Learn more about this term Usage Example 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.   Featured Article Google and Innovation - A History Google has become such a massive, dominating company in the field of web search that it has entered the cultural lexicon as the de facto verb for searching ... Read this article   Voice Your Opinion What's the worst thing to say in a job interview?   Take us with you! Download the BusinessDictionary app today.
	Copyright 2015 WebFinance Inc. All Rights Reserved. BusinessDictionary.com Term of the Day is published by WebFinance Inc., the operators of InvestorWords, InvestorGuide, and BusinessDictionary, and is sent only to those who have specifically requested it.   MANAGE SUBSCRIPTION | DISCLAIMER 10201 Fairfax Boulevard, Suite 570 Fairfax, VA 22030