Taxable Items
Sales taxes are imposed only on taxable transfers of goods or services. The tax is computed as the tax rate times the taxable transaction value. Rates vary by state, and by locality within a state. Not all types of transfers are taxable. The tax may be imposed on sales to consumers and to businesses.
All states exempt certain types of goods from sales and use tax. Those states that tax services tax only certain services. Some states tax certain types of property rentals. Most transfers of intangible property are not subject to sales tax. Definitions become critical.
Read more about this topic: Sales Taxes In The United States
Famous quotes containing the word items:
“A favorite of outdoor alcoholics, connoisseurs and Fundamentalists, these pills turn water into wine. In 10 minutes the most fetid swamp scum in the forest can become modest red, elusive and light on first taste, yet playful—one might say a trifle impudent—on the afterbite. Saves pack space by eliminating need for bulky corkscrew, decanter and bottles. Store pills on their sides in a cool dark place.”
—Alfred Gingold, U.S. humorist. Items From Our Catalogue, “Wine Pills,” Avon Books (1982)