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Sales tax is a tax that is added while designing the MRP of a product or a service. Every time a consumer makes a purchase, he is indirectly paying sales tax to the government.
Sales tax is different from other kinds of taxes in the sense that sales tax is paid every time a product moves ahead to its next stage of manufacturing or production. All these intermediary taxes sum up in framing the final sales tax that is incorporated into the MRP.
Sales tax depends on various factors as explained below:
Different states have different rules for levying a sales tax. Accordingly, sales tax varies from state to state. A product that is exempted from sales tax in one state may be a subject of tax in another.
Some other states add their own sales tax on the products that were imported from another state, though they were subjected to sales tax in the state of their origin.
As a retail buyer, you end up paying the sales tax to the retail seller. It is the responsibility of the retailer to collect sales tax from all the customers and submit the tax amount to the government before a prescribed date; failing which the retailer may be subjected to legal offenses too.
Depended on many such factors, sales tax often shows many interesting observations.
Use our sales tax calculator to decide on your purchase. Note sales tax of different states, and enter the net price of the product along with the sales tax percentage being levied. Our sales tax calculator shows the gross cost and the sales tax amount individually. You can understand how much you would need to pay in the form of sales tax.
It is that simple. You can also conveniently add our sales tax calculator widget to your website and make a sales tax calculation instantly. Just let us know your preferred customizations at [email protected], and we would design an attractive and colorful widget as per your taste. And this is all for FREE!!