Princeton's WordNet(1.00 / 1 vote)Rate this definition: 1  word(noun) a unit of language that native speakers can identify. words are the blocks from which sentences are made; he hardly said ten words all morning. 2  word(noun) a brief statement. he didn't say a word about it.
An aspect of fiscal policy. A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow (or require) the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax.
What is use tax? Use tax is a form of sales tax designed to distribute the tax burden fairly among consumers and assure fair competition between in-state and out-of-state businesses. Illinois, like most other states, imposes use tax on the privilege of using goods within their borders as a complement to sales taxes.