The federal government does not levy sales taxes on items, but most state governments charge varying rates of sales taxes on a range of taxable products. If your business is based in any of these ...

Sales tax you pay for inventory used in manufacturing your goods is a cost of goods sold. The inventory you purchase is also a cost of goods sold; however, the sales tax expense for the inventory is ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance ...