Quote:
Originally Posted by Apache
In the US each State sets and collects it's sales taxes. In Georgia the retail price does not include taxes. Taxes are added at check out and collected by the retailer. The retailer then pays that month's collected sales tax by the 20th of the following month. If tax rates change the retailer makes the adjustment on his end, but it does not affect the retail price.
Apache
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that's not actually relevant. Value Added Tax is a European invention , with all the complexity of a byzantine euro-committee design - its not a sales tax per se. there's no direct USA equivalent
A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed