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.
Sales taxes in the United States are taxes placed on the sale or lease of goods and services in the United States. While no national general sales tax exists, the federal government levies several national selective sales taxes on the sale or lease of particular goods and services.