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When buying any item in most stores, you are charged sales tax. Retailers, even smaller businesses are charged taxes for running their business. Businesses are able to pass on part of the burden to their paying customers in way of sales tax. So when you see an item marked as 99 cents, you will be paying slightly more than a dollar in almost all cases.
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According to the question, you may be charged sales tax when you purchase an item in a store.

A sales tax refers to the tax that is imposed on goods and services. This tax is a consumption tax that is imposed by the government.

Further Explanation

The retailer collects the sales tax on behalf of the government and which is later remitted to the purse of the government. The retailer remits the sales tax either monthly or quarterly. Any businesses that operate in any environment where the sale tax law exists are liable to pay sales tax.

The end-users of the product or services offered by a company are charged for a sales tax. The sales tax rate is different among states in the US, it ranges from 1.7% to 9.45%. There are also some states with local sales tax laws.

There are 5 States in the US that do not charge sale tax on purchases. These states includes:

  • Oregon
  • Delaware
  • New Hampshire
  • Montana

However, in some of the five states, the local municipalities are allowed to charge sales tax. Also for the company to collect tax from consumers they have to apply for a sales tax permit. While some states require a fee to get the permit, some state grants the permit at no charge.

LEARN MORE:

  • Sales tax is caculated https://brainly.com/question/10609298
  • 5% sales tax https://brainly.com/question/372989

KEYWORDS:

  • sales tax
  • local municipalities
  • US
  • consumption tax
  • product
  • services

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