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Which of the following statements is INCORRECT regarding use tax? The tax base is the retail price of the goods purchased in another state. Many
Which of the following statements is INCORRECT regarding use tax?
The tax base is the retail price of the goods purchased in another state.
Many states offer a use tax credit for purchases made in another state where a sales tax was imposed.
The use tax allows a state to collect tax on items purchased in another state but utilized or consumed within their own state.
The retailer is responsible for collecting and remitting the tax to the state where the consumer resides.
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