Examlex
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Sales Tax
A tax imposed by a government on the sale of goods and services, usually calculated as a percentage of the selling price.
Merchandise
Goods that are bought and sold in the course of business.
State Sales Tax Department
The department within state government responsible for administering the collection and management of sales tax, including regulation enforcement and taxpayer assistance.
Perpetual Inventory
A system of inventory management where updates are made continuously as inventory items are bought and sold.
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