Sales Tax (Entrepreneurial Finances) - Definition, Examples, Advice | Bolder Money

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Definition

Collecting extra money from sales to pay the government. Keeping track of sales tax ensures you stay legal and avoid penalties.

What to consider

Review policy details carefully.
Compare quotes from different insurers.
Ensure coverage meets your specific business risks.

Real world scenarios

A small manufacturing company in Ohio purchases general liability and property insurance to protect its assets.
An entrepreneur reviews multiple insurance quotes before choosing a policy that covers both professional and product risks.
A retail store secures business insurance to cover potential losses from theft and damage.

Related terms

Entrepreneurial Finances

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