True Cost Economics is currently creating a sizable ruckus in the academic world, and its value as a system of thought is starting to be recognized by the economic establishment. -- Brendan Themes Go there >>True Cost Economics
Combined with the fact that sales tax is tied to consumption rather than income, this leads some to the conclusion that low-income individuals and families pay a greater proportion of their incomes in sales taxes, therefore sales tax is regressive. You're supposed to read regressive as unfair.
If you are registered for sales tax purposes, you can claim a credit for sales tax you overpaid, paid by mistake, or collected but then repaid to your customers. You can then apply the credit to reduce the tax you owe on your sales tax return.f you prefer, you may apply for a refund of the sales tax instead of claiming a credit. Information on applying for a sales tax refund can be found in Tax Bulletin How to Apply for a Refund of Sales and Use Tax (TB-ST-350) .