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

A scaled back trade-in program and a rise in the EV purchase tax from 0% to 5% may prompt domestic auto sales growth to slow, Nomura says.

From The Wall Street Journal

Investors have been focused on EV affordability after the $7,500 federal EV purchase tax credit expired in September.

From Barron's

EV sales in the fourth quarter dropped 36% year over year to some 234,000 vehicles following the loss of the federal $7,500 EV purchase tax credit in September.

From Barron's

EV sales in the fourth quarter dropped 36% year over year to some 234,000 vehicles following the loss of the federal $7,500 EV purchase tax credit in September.

From Barron's

The $7,500 federal EV purchase tax credit expired in September, making all EVs less affordable.

From Barron's