Need A Financial Product Forums Tax Savings What are the types of sales tax?

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    Suraj Singh
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    What are the types of sales tax?

    #47415

    Nidhi Arora
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    Manufacturer’s sales tax is the tax on sales of tangible personal property by manufacturers and the producers; Retails sales tax is the tax on sales of retail of tangible personal property to the final recipient and the industrial users; Use tax is a type of sales tax which is imposed directly on the consumer of goods purchased without the sales tax, usually on items purchased from a vendor who is not under the ambit or jurisdiction of the taxing authority; Value Added tax (VAT) is a tax which is charged on all sales, thus almost eliminating the need for a system of resale certificates, it is the difference between the price paid by the first purchaser and the price paid by each subsequent purchaser of the same good or service.

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