Sales Taxes
From Open Risk Manual
Definition
Sales Taxes. Taxes that are generally levied by state and local governments as a percentage of the commodity’s price.
General sales taxes are typically shown separately on sales receipts and are typically levied as a standard percentage of the commodity’s price. They include sales taxes collected by retail establishments, by wholesalers, and by service establishments. Selective sales taxes are levied on a specific commodity at a percentage that differs from that of the general sales tax. They include taxes on motor fuels, tobacco products, alcoholic beverages, public utilities, meals, hotel occupancy, and amusements.[1]
References
- ↑ Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009
