purchase tax

American  

noun

British.

1. a sales tax on nonessential and luxury goods.

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purchase tax British  

noun

1. a tax levied on nonessential consumer goods and added to selling prices by retailers

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Etymology

Origin of purchase tax

First recorded in 1935–40

Example Sentences

Sales in October and November fell after the removal of the $7,500 federal EV purchase tax credit in September.

From Barron's

Starting Jan. 1, battery EVs and hybrids will transition from a full purchase tax exemption to a 50% exemption.

From The Wall Street Journal

There isn’t much sales data for the U.S. yet, and the car was launched after the $7,500 federal EV purchase tax credit expired.

From Barron's

The elimination of the federal EV purchase tax credit, worth up to $7,500, is hurting electric-vehicle sales.

From Barron's

October sales were down 60% from September, the last month buyers could qualify for the federal EV purchase tax credit, worth up to $7,500.

From Barron's