The correct answer is <u>sales tax.
</u>
When you purchase an item in a store, you may be charged <u>sales tax.
</u>
Further Explanation:
Sales tax:
Sales tax can be defined as the tax paid to the government indirectly for purchasing any item or a product. The government collects taxes indirectly from the public by collecting sales tax. The sales tax is levied on the products purchased by the shopkeeper or the seller. After this, the shopkeeper pays the charge to the government. The sales tax is a burden on the consumer.
The details of the sales tax are mentioned in the product details with the price of the product. It is a burden a business or the seller passes on to their customer to pay the tax. Even small businesses also have to pay sales tax to the government. The retailer or the seller collects the charge on behalf of the government, and later the seller pays the whole tax amount to the government.
Therefore, after purchasing an item from a store, a sales tax has been charged.
Learn More:
1. Tax from selling property
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2. State income tax
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3. Personal taxation
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Answer Details:
Grade: High school
Chapter: Sales tax
Subject: Business studies
Keywords:
When you purchase an item in a store, you may be charged sales tax; therefore, after purchasing an item from a store, a sales tax has been charged.
