Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Sales tax

Read a random definition: half

A quick definition of Sales tax:

A sales tax is a tax that you pay when you buy something. It's like a little extra fee that you have to pay on top of the price of the thing you're buying. The money from the sales tax goes to the government, and they use it to pay for things like schools, roads, and parks. Different states and cities have different sales tax rates, but most of the time it's between 5% and 9%. Some places don't have a sales tax at all!

A more thorough explanation:

A sales tax is a tax on the purchase of goods or services. It is paid at the time of the transaction and is usually a percentage of the total cost. Sales taxes are a type of consumption tax, which means they are based on how much people buy and use.

In the United States, sales taxes are determined by state and local governments. Some states, like New Hampshire, Oregon, Montana, and Alaska, do not have a statewide sales tax. However, most states have a sales tax that ranges from 5% to 9%. Some cities and counties also add their own sales tax on top of the state tax. For example, New York City has a sales tax of 4.5% on most products.

Sales taxes are used to raise revenue for the government. They can be used for general purposes or for specific projects. For example, Milwaukee County and four surrounding counties levied a special stadium tax of 0.1% to assist in funding the construction of Miller Park, the stadium for the Milwaukee Brewers.

Example: If you buy a shirt for $20 and the sales tax is 6%, you would pay an additional $1.20 in tax. This means the total cost of the shirt would be $21.20.

Example: A city might raise the sales tax for a few years to pay for a new library. This temporary tax would only be in effect until enough money was raised to pay for the library.

These examples illustrate how sales taxes work and how they can be used to raise money for different purposes.

Sale | Salvage

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
windyMagician
11:09
shaq hows ur love life going? any updates?
shaquilleoatmeal
11:14
damn couldnt even get to Christmas dinner before this question lmao im not looking for anything serious rn so no updates lol
11:14
i made out with my ex in a stairwell the other day if you care. my only update
shaquilleoatmeal
11:14
oof
shaquilleoatmeal
11:14
twitter ex or a different ex
11:15
different ex
windyMagician
11:15
since its not Twitter dude I'll forgive it
shaquilleoatmeal
11:17
at least you did that before the new year, cant carry that baggage in 25
11:17
I think he thinks if I move to nyc we’re going to get back together
11:17
that’s not my plan tbh
jackfrost11770
11:18
this is so funny
shaquilleoatmeal
11:19
lmao damn wish id be classmates with this dude
shaquilleoatmeal
11:20
@cheriebomb: you never know what the future holds
jackfrost11770
11:20
also cherie fallen soldier
jackfrost11770
11:20
i got home at 8 am from the club and my neighbor was leaving to go biking. truly living in different worlds
11:20
i don’t fw him that heavy tbh
11:21
i get along better with his friends than i do with him
windyMagician
11:21
nah the hiking in Nike blazers deserves jail time
11:21
he was already vomiting and shitting in a hole I think he did his penance
windyMagician
11:26
call that restorative justice
11:35
they put a place in the UK second. I don’t trust their methodology
shaquilleoatmeal
11:35
im laughin cause it definitely isnt but the fact that some people this it is is comical
shaquilleoatmeal
11:35
tink*
shaquilleoatmeal
11:35
think jee
shaquilleoatmeal
11:35
jeez - im over it
11:37
imagine saying you want to go to boston for christmas 💀
shaquilleoatmeal
11:40
imagine you not wanting to go what lmao
LSD+ is ad-free, with DMs, discounts, case briefs & more.