Consumption Tax Practice

Use Tax Practice - Use Tax Practice refers to the application, administration, and enforcement of taxes on the use, storage, or consumption of goods and services that were not subject to sales tax at the time of purchase. These taxes are designed to complement sales taxes and ensure that all taxable transactions are taxed appropriately, even if the purchase occurs out of state or through an online retailer.

Class Information

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Identification

Label (rdfs)
Use Tax Practice
Preferred Label
Consumption Tax Practice
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Definition and Examples

Definition
Use Tax Practice refers to the application, administration, and enforcement of taxes on the use, storage, or consumption of goods and services that were not subject to sales tax at the time of purchase. These taxes are designed to complement sales taxes and ensure that all taxable transactions are taxed appropriately, even if the purchase occurs out of state or through an online retailer.
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Deprecated
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