Multi-State: The House of Representatives passed House Bill 622 April 16, 2015. The bill would make certain state and local sales taxes deductions permanent. These tax breaks typically expire each year and are renewed at the last minute by Congress. As previous House bills continue to renew the majority of the 55 tax extensions, Congress…
Michigan– Voting in May 2015 could bring various changes to the sales tax structure in Michigan. The bill, already passed in the House and the Senate, is now being put to Michigan residents themselves. The bill proposes increasing the sales tax rate from 6% to 7%, lowering the sales tax on fuel, and increasing the…
Common new year’s resolutions include eating better, working out, and reading more. But do you know which states have sales tax laws to help you reach your goals?
MULTI-STATE: Online retailers will have a few changes to their sales tax laws if the Marketplace Fairness Act is approved. A bipartisan group of senators introduced the bill on Tuesday (3/10/15). The Marketplace Fairness Act of 2015 would give states the option to require out-of-state businesses, such as those selling online or through catalogs, to collect and use taxes already owed under state law the same way local businesses do. It relies on the Streamlined Sales and Use Tax Agreement among states.
COLORADO– Bolder County introduced new sales tax rates effective January 2015. The new breakdown for the tax rate is as follows: Bolder County 0.985% State of Colorado 2.9% Regional Transportation District 1.0% Scientific Cultural District 0.1% Total 4.985% The Bolder Country rate increase is 0.185% from the previous 0.8%. This rate was approved by voters…
MISSOURI – Cape Girardeau County Commissioners voted in January to approve a 1% use tax, subject to voter approval. The voter-approved use tax can be levied on out-of-state purchases of titled vehicles, including automobiles, boats, recreational vehicles, and other tangible personal property purchased out of state. Buyers will be required to file a use-tax return with the…
COLORADO– According to economists at Colorado Legislative Council, 2014 marijuana sales tax revenues were not as great as anticipated for their first year of sales. Though proponents of the legalization of the controlled substance argued large tax revenues for the state, those original estimates were severely inflated. Now able to analyze the revenue data, the…
CALIFORNIA- State Senator Bob Hertzberg formally introduced his first bill, Senate Bill 8, as 2014 came to a close. The bill, also known as The Upward Mobility Act, will impose sales and use tax to additional specific services provided in the state to increase state revenue. The economy of California has changed radically since the current…
TEXAS – Compared to June 2013, state sales tax revenue was up 3.7 percent, $2.24 billion, said Comptroller Susan Combs. “Sales tax revenues continue to grow at a moderate pace. The increase was led by remittances from the wholesale trade, services and restaurant sectors. Fiscal year-to-date collections have now grown by 5.2 percent.” Cities, counties,…
