ETAX Multijurisdictional Matters R18-01B

List and define various state and local taxes.

• Sales taxes. Applies on tangible personal property and services.
• Use taxes. Applies on tangible personal property not purchased within state.
• Property taxes. Applies to realty and personalty.
• Franchise taxes. Applies for the privilege of doing business in a state.
• Excise tax. Applies based on the quantity of an item or sales price.