Use tax

A use tax is a type of excise tax levied in the United States by numerous state governments. Use tax is essentially the same as - and is assessed at the same rate as - sales tax, but is applied not where a product or service was sold, but rather where a merchant bought a product or service then converted it for its own use but without having paid tax when it was initially purchased. Since it was not "sold" the product is not imposed a sales tax (which is collected at the time of sale) but instead the transfer imposed a use tax (which is collected when the taxed item is converted from inventory into something that is "used" by the seller). In short, the seller is presumed to have bought the (untaxed) item from themselves and at that time must pay use tax in lieu of sales tax.

Introduction

Use tax is assessed upon tangible personal property purchased by a resident of the assessing state for use, storage, or consumption in that state (not for resale), regardless of where the purchase took place. If a resident of a state makes a purchase within his home state, full sales tax is paid at the time of the transaction. The use tax applies when a resident of the assessing state purchases an item that is subject to his home state's sales tax but, is purchased from another state. Usually, this is due to out-of-state purchases, as well as ordering items through the mail, by phone, or over the Internet from other states. The use tax is typically assessed at the same rate as the sales tax that would have been owed (if any) had the same goods been purchased in the state of residence.

Use

Use may refer to:

or to:

See also

Use (law)

Use, as a term in real property of common law countries, amounts to a recognition of the duty of a person, to whom property has been conveyed for certain purposes, to carry out those purposes.

Uses were equitable or beneficial interests in land. In early law a man could not dispose of his estate by will nor could religious houses acquire it. As a method of evading the common law, the practice arose of making feoffments to the use of, or upon trust for, persons other than those to whom the seisin or legal possession was delivered, to which the equitable jurisdiction of the chancellor gave effect. To remedy the abuses which it was said were occasioned by this evasion of the law the Statute of Uses of 1536 was passed. However it failed to accomplish its purpose. Out of this failure of the Statute of Uses arose the modern law of trusts (see that article for further details).

Development of the use

One reason for the creation of uses was a desire to avoid the strictness of the rules of the common law, which considered seisin to be all-important and therefore refused to allow a legal interest to be created to spring up in the future. Although the common law recognised a use in chattels from an early period, it was clear by the end of the fourteenth century that land law had no room for this notion. Uses, nonetheless, satisfied contemporary needs in fifteenth century England. Its first application in relation to land was to protect the ownership of the land by the Franciscan Monks, who were pledged to vows of poverty and unable to own land. This enabled the feoffee to uses for the benefit of a cestui que use. The common law did not recognise the cestui que use but affirmed the right of ownership by feoffee to use. The term "use" translates into "Trust" and this was the legal beginning of Trusts and the use of trusts to defeat feudal, death and tax dues.

USE1

Uncharacterized hematopoietic stem/progenitor cells protein MDS032, also known as MDS032, is a protein which in humans is encoded by the MDS032 gene.

Function

D12, the mouse homolog of MDS032, is a SNARE protein involved with the Golgi secretory apparatus and with endosome-lysosome transport.

References

Further reading