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Sales tax does not apply to transfers of real property, though some states impose a real estate transfer or documentary tax on such transfers. All states provide some exemptions from sales tax for wholesale sales, that is, sales for resale. [8] However, some states tax sales for resale through vending machines. [9]
Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a form packaged and labeled ready for shipment or delivery to final users and consumers; Retail sales tax, a tax on sales of retail of tangible personal property to final consumers and industrial users [3] Gross receipts taxes, levied on all sales of a ...
Unlike value added tax, sales tax is imposed only once, at the retail level, on any particular goods. Nearly all jurisdictions provide numerous categories of goods and services that are exempt from sales tax, or taxed at a reduced rate. Purchase of goods for further manufacture or for resale is uniformly exempt from sales tax.
Similarly, if a merchant has a deep discount sale, that is not a bulk sale as deep discounts can be made in the ordinary course of business. In the modern era, many retail businesses operate on consignment or short credit terms and so compliance with bulk sales registration in the purchase of such a business, or its assets, is generally mandatory.
In the past year, another state sales tax exemption was proposed: feminine hygiene products, including menstrual pads and tampons. Advocates for that proposal argued that those items are medical ...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.