A tax on the value of a good or service being purchased is called the:

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A sales tax is a tax on the value of a good or service being purchased. It is typically a percentage of the purchase price, added on top of the purchase price at the time of sale. Examples include state and local sales taxes in the United States, VAT (value-added tax) in many other countries, and GST (goods and services tax) in Australia. Other options are incorrect - payroll tax is a tax on wages and salaries, personal income tax is a tax on individuals' income, and excise tax is a tax on specific goods or services (such as tobacco or alcohol).

A Tax on the Value of a Good or Service