If you purchase merchandise through a catalog or the internet from a seller located outside of Texas and use the taxable item in Texas, then you owe Texas use tax on the purchase.
What does T stand for?
T stands for Taxable Item
This definition appears very frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of T
- Primary immune system white blood cell
- T-Joint (welded joint type)
- T-Mo (rapper)
- Tackle (football)
- Tango (aviation letter code)
- Tank (oil & water tanks)
- Target Corporation (IRB)
Samples in periodicals archive:
However, when taxable items and nontaxable items are billed as a lump sum, the entire amount is subject to sales tax.
New X-Ray machines deployed at the Ninoy Aquino International Airport (NAIA) have generated incremental revenues as the Bureau of Customs (BOC) beefed-up its capability to detect highly taxable items such as jewelery, luxury watches, designer bags, undeclared foreign currencies, and even prohibited drugs hidden in travelers luggage.
When taxable items and non-taxable items are both provided for a single price, states generally will impose a tax on the entire charge in the absence of segregation of the charge into its taxable and non-taxable component parts.
Thus, assuming that the taxable item has a sales price equal to or greater than the face value of the certificate, the "sales price" includes the face value of the certificate as well as any cash or consideration paid.
Analysts said that with the implementation of the reformed general sales tax (RGST) the tax rate would come down, but the number of taxable items would increase that would result in further inflationary pressure.
9 to put a measure on the November ballot asking voters to approve an increase of Bellingham's sales and use tax by up to 2 cents per $10 of taxable items.
The law will be implemented on all taxable items, both local and imported, in three stages: at customs or on the factories, on the supplier and on the retailer.