01 n. a tax imposed upon the retail sale of goods or the sale of services, usually collected by the seller at the time of purchase; -- it is typi…
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a tax imposed upon the retail sale of goods or the sale of services, usually collected by the seller at the time of purchase; -- it is typically calculated as a percentage of the price of the object sold, being commonly from 3% to 7% of the base price. See: base price