With most prices on the rise, many people are probably thinking, how can it get any worse? Well it can. In Illinois, on July 1, 2008 Cook County's sales tax has gone up to 10.25 percent which is now the highest of any major city in the country. With our struggling economy, no county in the United States is safe from increasing prices including sales tax.
Taxpayer asks:
I live and bought a car in NJ for $30,000 and paid $2,100 in sales tax. After two years sold the car to a neighbor for $20,000. When he transferred the title he had to pay $1,400 in sales tax. Is this double taxation?
Taxgirl says:
I’m afraid not but it is understandable why you’d think [...]
The hike in fuel prices is adding pressure on the common man’s purse. The petrol price has gone up by Rs 5 and diesel is up by Rs 3 per litre. Travelling is no longer cheap. The middle class is now opting for local transport rather than personal cars to cut down travel cost.The government earns most of its revenue from taxes on petrol and diesel. Though all the states have revised the values of
The Mecklenburg County Commissioners are considering asking Mecklenburg County voters to decide if they want to pay more taxes to fight crime. Several of the Commissioners want to add a referendum to November's ballot for a 1/4 cent sales tax increase. If passed, the tax would add an estimated $20 million in 2009 and the funds would go to the county's criminal justice system. If voters approve the
Speaking about different sales tax, I also remember an interesting experience I had one time when I bought something from Macys’ (department store) from another state and returned the product in Orange County that I want to share.
I don’t quite remember what it was that I bought, but when I returned the product to Macys’, [...]
While I was traveling in Raleigh, North Carolina, I bought a wireless mouse at the Apple Store to work with my Macbook Pro. It wasn’t until I heard the cashier tell me the total did I realized the sales tax was different than where I live (Southern California). I checked the receipt, and [...]
Tax-free period is coming soon! Yep, it’s a wonderful opportunity that we can take advantage of to save a huge amount of money. I think it would be helpful if I can summarize all the tax sales across the nation. Then I “google” on the internet about all the states and collect the information on [...]
Amazon.com is suing New York over a new law that requires out-of-state online companies to collect sales tax from shoppers in New York.
“We are challenging the constitutionality of the recently enacted legislation in New York,” Amazon spokeswoman Patricia Smith said.
Amazon.com has filed a lawsuit challenging New York State’s new law forcing online retailers to collect sales tax on shipments to state residents.On Friday, Amazon filed a complaint in State Supreme Court in Manhattan objecting to the law, which was approved as part of the $122 billion state budget that Gov. David A. Paterson signed last week. The law is expected to raise about $50 million.The issue is not whether people should pay tax when they buy goods from out-of-state sellers like Amazon. For decades, the state has required them to pay sales or use tax. The question is whether the vendors must collect that tax on behalf of the state. Generally, only those companies that have a physical presence — like an office or store — in the state where the purchase is made are required to c
Greetings from the UK! Yep, hubby and I packed up and headed across the pond to Jolly ol’ England for a few days of rest and relaxation (as well as a hint of business).
I won’t regale you with the saga of what’s really happening here (lots of sick travelers, present company included, ridiculously fickle [...]
Your tourist souvenirs in the Windy City just got a little more expensive. As of November 2008, Chicago will become the most expensive city in the United States for paying sales tax.
Cook County voted to double the county sales tax to 1.75% putting Chicago’s total sales tax bite at a whopping 10.25%. That [...]
From the Los Angeles Times: "Mike Huckabee, one of the most conservative Republicans in the 2008 presidential race, has embraced one of the most radical ideas on the campaign trail: a plan to abolish all federal income and payroll taxes and replace them with a single 23% national sales tax."read more | digg story
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Hmmm, thinking that our infrastructure might be better served by that increase in sales tax monies. A day like today that saw most of NE Ohio flooded due to sewers that are tied into each other in ways that encourage flooding.....couldn't they use that money to take care of this issue instead? I'd love to know if this is realistic. Peace Out-3C
12:01 am, Friday, August 3, 2007 will be the starting point and 12:00 midnight Sunday, August 5, 2007 will be the finish line for time for Alabama’s Second Annual Tax Holiday shopping marathon. This Tax Holiday aims to afford financial relief to Back-To-School shoppers across the state a $3.3 million break. Governor Riley stated, "At a time when families need it most, this change will let them keep more of their hard-earned dollars. It will offer tax relief to Alabama families from the burden of the state's sales tax on items their children need for school." For more information about exempted items, city participation, and county participation check out this article at the Alabama Department of Revenue. Also feel free to read this article from the Birmingham Business Journal. Happy Shopping!
Florida voters think the proposal to replace local property taxes with an increased sales tax is a “bad idea” and deep cuts in government budgets are a better alternative, a new poll released Thursday shows.The poll, by the independent research arm of Quinnipiac University in Connecticut, found that voters reject the House Republicans’ controversial idea to exchange property taxes for higher sales taxes – but they like their idea of rolling back local government spending to 2001 levels.The poll results are one more blow to the tax-swap plan, which is in serious trouble in the Senate, where leaders have all but rejected it, and in the House, where many Republicans privately say they don’t want to vote for it.Voters may offer some direction: According to the poll, they prefer the rollback idea 69 percent to 23 percent, and oppose by a 48 percent to 44 percent margin eliminating the property tax on primary homes and replacing it with a 2.5 cent increase in the sales tax.The divi
Florida voters think the proposal to replace local property taxes with an increased sales tax is a “bad idea” and deep cuts in government budgets are a better alternative, a new poll released Thursday shows.The poll, by the independent research arm of Quinnipiac University in Connecticut, found that voters reject the House Republicans’ controversial idea to exchange property taxes for higher sales taxes – but they like their idea of rolling back local government spending to 2001 levels.The poll results are one more blow to the tax-swap plan, which is in serious trouble in the Senate, where leaders have all but rejected it, and in the House, where many Republicans privately say they don’t want to vote for it.Voters may offer some direction: According to the poll, they prefer the rollback idea 69 percent to 23 percent, and oppose by a 48 percent to 44 percent margin eliminating the property tax on primary homes and replacing it with a 2.5 cent increase in the sales tax.The divi
MORE PROOF THAT WE NEED A 5% Sales tax on Ads.
The ONLY cost would be 5% LESS ads
and the states would get $30 BILLION PER YEAR. Watch MSoft's popularity and POSITIVE press evaporate
They are moving most of their ads to =Digital Channels
In 2006, Microsoft spent $447 million in measured media,
The media-spending tracker said 18% of that was spent on internet advertising --
far
While I can sympathize and understand Cindy Locklear’s vote on the extension of the 3/4% sales tax, I can’t condone voting for it. Rationalization and placing the blame on mandates from the State of New York do not cut it anymore.
Paring down a budget is never an easy or pleasant task, whether it is a home, business or government budget. Generally it is a painful process. The problem with the Erie County Legislators, and Joel Giambra, is that they are trying to cope with the problem without causing any pain. It just won’t happen.
It is time to draw a line in the sand and say “NO MAS”! People will be subjected to less services, possibly some inconvenience and possible pain. That is when the pressure can be put on the State to make some changes to alleviate the pressure on the County budget.
To use an oft overused cliche; “No Pain, No Gain!”
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Advanced TopicAn assessee had been allowed sales tax claim u/s 43B pursuant to a scheme of the state government whereby the government had converted his sales tax liability into a loan. The CBDT had issued two circulars---No.496 in 1987 and 674 in 1993---to provide that in cases where incentives were granted to an assessee by way of sales tax deferment, payment of ST will be deemed to have been made and no dis allowance will be made u/s43B.The assessee had been allowed such a deduction in A Y 1994-95, when his unpaid ST was converted into a loan.The loan instalment was due to be paid before31.03.2006, but it was not paid even before 31.10.2006, the due date for filing return of income.Now the AO seeks to disallow this amount of loan instalment treating it as part of sales tax.My understanding is that once the amount of unpaid ST was converted into a loan, it ceased to be an expense altogether. How can it acquire the colour of sales tax again? Isn't the AO violating the CBDT circulars
Whether TDS has to be deducted on the Gross amount of Bill, inclusive of service tax and sales tax if any. Are we supposed to deduct tax on tax i.e. service tax agarwalrohit_k@............com The word used in TDS provision is "Any sum" , therefore all sum whether service tax or sales tax, TDs has to be ducted. The basic premise is that the person's whose income has been deducted shall get the credit for it on showing the said Service tax and Sales tax to the credit side of the P &L account. Therefore, a person liable to deduct tax at source is required to deduct on Gross amount of payment without giving a thought on the nature of payment.
Even as the affiliate marketing industry awaits answers from the government regarding New York sales tax law as it affects affiliate marketing, the industry is working to get answers and find solutions that will help affiliate marketers navigate this new development. Three industry leaders who've been leading the search for those answers and solutions joined PartnerCentric President Linda Woods
