The Streamlined Sales Tax Project
McLaughlin, Mary, The CPA Journal
A sales tax is an excise tax on goods or services purchased by a consumer from a retailer that has a physical presence in the same state as the consumer. The buyer bears the legal burden of the tax but the seller is required to collect and remit the tax to the state. A use tax is a compensating tax for the privilege of using, storing, or consuming within the state tangible personal property or specified services, the purchase of which would have been subject to sales tax had the sale occurred within the state.
Currently, 45 states and the District of Columbia impose a sales tax and a compensating use tax. America's sales and use tax system, with 7,500 state and local taxing …
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: The Streamlined Sales Tax Project. Contributors: McLaughlin, Mary - Author. Magazine title: The CPA Journal. Volume: 73. Issue: 12 Publication date: December 2003. Page number: 58. © New York State Society of Certified Public Accountants Feb 2009. Provided by ProQuest LLC. All Rights Reserved.