Sales and Excise Tax

Latest news on US Sales Tax, a consumption tax imposed by the government on the sale of goods and services. The tax is usually calculated as a percentage of the sale price of the goods or services. The tax is generally imposed by the state government, but some local governments also levy sales tax. In the United States, the sales tax rate varies from state to state. The average sales tax rate in the US is around 5 percent. Some states, such as Alaska, have no sales tax, while others, such as California, have a sales tax rate of over 7 percent. Sales tax is generally imposed on all retail sales, including both online and offline sales. However, some states exempt certain items from sales tax, such as food and medicine. Sales tax is generally collected by the seller of the goods or services. However, in some states, consumers are required to self-report and pay the tax directly to the state government.