use tax

use tax
use tax n: a tax imposed on the use of personal property and esp. property purchased in another state; specif: a one-time tax imposed on the exercise or enjoyment of any right or power over tangible personal property that is incident to the ownership, possession, custody, or leasing of it
a law allowing the payment of a sales tax to be credited against the amount of use tax due
the manufacturer became liable for a use tax when items were withdrawn from inventory for internal use

Merriam-Webster’s Dictionary of Law. . 1996.

use tax
A tax imposed by a state to compensate for the sales tax lost when an item is purchased outside of the state, but is used within the state. For example, you buy your car in a state that has no sales tax, but you live across the border in a state that does have a sales tax. When you bring your car home and register it in your state, the state taxing authority may bill you for the sales tax it would have collected had you bought the car within the state.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
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Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

use tax
A charge imposed on the use or possession of personal property.

Dictionary from West's Encyclopedia of American Law. 2005.

use tax
A charge imposed on the use or possession of personal property.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

use tax
   a state tax on goods purchased in another state for use in the taxing state, to make up for local sales tax. Example: Bill Buyer, who lives in California (which has a sales tax), orders a freezer from a company in a state with no sales tax. California will attempt to charge a "use" tax equivalent to its sales tax.

Law dictionary. . 2013.

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Look at other dictionaries:

  • Use tax — A use tax is a type of excise tax levied in the United States. It is assessed upon otherwise tax free tangible personal property purchased by a resident of the assessing state for use, storage or consumption of goods in that state (not for… …   Wikipedia

  • use tax — /yoohs/ a state tax imposed on goods purchased outside a state for which state sales tax has not been paid. * * *       levy on the use or possession of a commodity. Under the principle that the taxpayer should pay according to the benefits… …   Universalium

  • use tax — A tax levied upon the use, storage, or consumption of tangible personal property purchased outside the taxing state or taxing district, being a supplement or complement of a sales tax, imposed to prevent residents of a jurisdiction having a sales …   Ballentine's law dictionary

  • use tax — noun Etymology: use (I) : a supplement to a retail sales tax designed to reach goods purchased in a state that does not tax them and brought or shipped in to the taxing jurisdiction for use, storage, or consumption * * * /yoohs/ a state tax… …   Useful english dictionary

  • use tax — noun A charge imposed on the use or possession of personal property …   Wiktionary

  • Real property use tax — The Real Property Use Tax (RPUT) is a tax system with assessment based on the size, level of development, and time in use of real property, and designed for general revenue acquisition. The tax system is a proposed replacement for the federal… …   Wikipedia

  • Sales and use tax — refers to:* Sales tax * Use tax …   Wikipedia

  • compensating use tax — Same as use tax. =>> tax. Webster s New World Law Dictionary. Susan Ellis Wild. 2000 …   Law dictionary

  • Tax-free shopping — refers to the opportunity for customers to purchase goods or services without paying any tax normally collected at retail, such as sales tax, Goods and Services Tax, value added tax, or consumption tax.Tax free shopping in the United StatesTax… …   Wikipedia

  • Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… …   Wikipedia

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