Gourt > Society > Issues > Economic > Taxation > National Sales Tax (1)
A sales tax is a tax on consumption. It is normally a certain percentage that is added onto the price of a good or service that is purchased.
Ideally a sales tax is charged exactly once on any one item. A conventional or retail sales tax attempts to achieve this by charging the tax only on retail transactions, not on businesses buying raw materials for production or finished goods for resale. This prevents so-called tax "cascading," in which an item is taxed more than once as it makes its way from production to final retail sale. A related type of tax is the value-added tax, or VAT. It is a system in which all businesses remit taxes on their sales, but they are also refunded the amount of VAT remitted by their suppliers. In addition to avoiding cascading, under VAT there is no need for government to determine which sales are taxable and which are not, since all sales--retail and wholesale--are taxed.
Most countries in the world have sales taxes or value-added taxes at either the national or local level. Countries in western Europe, especially in Scandinavia have some of the world's highest valued-added taxes. Norway, Denmark, Sweden and Hungary have the highest VATs at 25% although reduced rates are sometimes used. In some countries, there are multiple levels of government which each impose a sales tax. For example, sales tax in Chicago is 9%, consisting of 5% state, 2.25% city, 0.75% county and 1% regional transportation authority and that in Baton Rouge, Louisiana is 9%, consisting of 4% state and 5% local rate 1.
More on [ Sales tax ]
Oak Lawn mulls tax incentive for longtime car dealer: Following national trends, new car sales in Oak Lawn have.. http://bit.ly/65sl0L
TWT_NEW_CARS (TWT NEW CARS) Thu, 26 Nov 2009 11:32:28 -0000
Oak Lawn mulls tax incentive for longtime car dealer: Following national trends, new car sales in Oak Lawn have.. http://bit.ly/65sl0L
Oak Lawn mulls tax incentive for longtime car dealer: Following national trends, new car sales in Oak Lawn have.. http://bit.ly/65sl0L
TWEET_NEW_CARS (TWEET NEW CARS) Thu, 26 Nov 2009 11:19:10 -0000
Oak Lawn mulls tax incentive for longtime car dealer: Following national trends, new car sales in Oak Lawn have.. http://bit.ly/65sl0L
P6 So until we replace our taxation system with a national sales tax and NO income tax..there will not be a real recovery! Why?..Because P7
DanteDMoney (Dante D'Money) Thu, 26 Nov 2009 05:47:14 -0000
P6 So until we replace our taxation system with a national sales tax and NO income tax..there will not be a real recovery! Why?..Because P7
Driven by first time buyer tax credit existing home sales show big gain in October, National. http://www.luxuryrealestatehomeshouston.com/
MicheleMarano (Michele Marano) Wed, 25 Nov 2009 17:30:11 -0000
Driven by first time buyer tax credit existing home sales show big gain in October, National. http://www.luxuryrealestatehomeshouston.com/
why wouldn't a one cent sales tax pay for national debt don roberson
droberson87 (Don Roberson) Wed, 25 Nov 2009 06:29:25 -0000
why wouldn't a one cent sales tax pay for national debt don roberson
Obama Considering a VAT Style National Sales Tax? >> http://www.fairtaxnation.com/forum/topics/obama-considering-a-vat-style
bibliata (Bibliata.com) Tue, 24 Nov 2009 18:05:42 -0000
Obama Considering a VAT Style National Sales Tax? >> http://www.fairtaxnation.com/forum/topics/obama-considering-a-vat-style
Emancipating America from the Income Tax - Cato Institute policy analysis paper supporting a national sales tax.
Meta Description: [ Promoting an American public policy based on individual liberty, limited government, free markets and peaceful international relations. Extensive library of studies, articles and monographs available ]
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National Sales Tax - A short piece by the National Center for Policy Analysis advocating for a national sales tax.
National Sales Tax Calculator - Calculator to estimate the impact of a national sales tax on the price of retail goods.
Tax Reform: National Retails Sales Tax Act - Brief, favorable description of a national goods and services tax, from About.com.
Meta Description: [ About the National Retails Sales Tax Act, from your Mining Company Guide ]
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