SALES TAX Definition

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SALES TAX is a tax levied by a government entity, usually state or city, on the retail price of an item and certain taxable services, collected by the retailer.

Learn new Accounting Terms

CASH CYCLE is the length of time, normally stated in numbers of days, between the purchase of raw materials and the collection of accounts receivable generated in the sale of the final product.

PROXIMO (usually abbreviated to PROX) means of or in the following month.

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