Question

Which of the following statements concerning state sales tax is correct?

Answer 1

The statement that is correct concerning state sales tax is that all 50 states collect sales tax. This implies the correct answer is c.

A sales tax can be defined as a consumption tax. It is a tax that is collected on the sales of goods and services and is being imposed by the government. Normally, sales tax is collected at the point of sale.

Further Explanation

The retailer collected the tax on behalf of the government and remit it into the purse of the government. A company must pay a sales tax if it operates or has a nexus within a particular jurisdiction.

Companies can only collect sales tax from their customers if they apply for a sales tax permit.  They will need to approach the taxation department in their respective states to apply for the permit.

However, the goods and services that are subjected to sales tax do differ from state to state. In some states, customers don’t have to pay sales taxes for groceries and prescriptions. Some states also don’t charge sales tax on clothing.

Businesses have the sole responsibility to collect and track sales tax from their customers; some companies do remit the tax to the government purse either monthly or quarterly.

Learn more about sales tax at:

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