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Power Sellers Unite
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elgato
Joined: 24 Feb 2005
Posts: 17237
Location: Texas
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| Posted: Tue Mar 09, 2010 11:47 am Post subject: U.S. Sales Tax Rates Hit Record High |
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While President Obama's push to raise federal income taxes for the wealthy gets lots of attention, the continuing upward creep in the sales tax rates imposed by state and local governments has gotten less notice.
But Vertex Inc., which calculates sales tax for Internet sellers, reports that the average general sales tax rate nationwide reached 8.629% at the end of 2009, the highest since the Berwyn, Pa., company started tracking data in 1982. That was up a nickel on a taxable $100 purchase from a year earlier and up nearly 40 cents for the decade. The highest sales tax rate in the country now stands at 12%.
In Pictures: America's Highest Sales Taxes
more.. link to news article |
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cohibastore.com
Joined: 14 Sep 2006
Posts: 4908
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| Posted: Thu Mar 11, 2010 12:22 am Post subject: Re: U.S. Sales Tax Rates Hit Record High |
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Welcome to the peoples republic of european style socialism.
CS |
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shado_x
Joined: 18 Feb 2008
Posts: 14
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| Posted: Sun Mar 21, 2010 6:27 am Post subject: |
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| Socialism that is so true; I thought I never see it in the good old USA but.... |
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cohibastore.com
Joined: 14 Sep 2006
Posts: 4908
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| Posted: Sun Mar 21, 2010 1:41 pm Post subject: |
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shado_x wrote (View Post): › docWrite("quote")Socialism that is so true; I thought I never see it in the good old USA but....
Defeat them from the inside, Communist rule #2.
Rule #1, execute all who oppose you. |
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mongoose
Joined: 05 Feb 2008
Posts: 2087
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| Posted: Wed Mar 31, 2010 8:35 pm Post subject: THE SALES TAX THAT COMES BACK TO BITE |
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Avoiding paying sales taxes on some purchases made online or out of state is getting more difficult, according to the Wall Street Journal:
* Twenty four states, plus the District of Columbia, are adding a special line on tax return forms that requests a payment for sales taxes on any good bought out of state, including those from online retailers.
* This is up from 20 states in 2008.
* Other states collect the tax in a variety of ways, some with special forms that taxpayers are supposed to fill out voluntarily.
States are trying to recoup some of the $20 billion or so they lose each year to online sales tax evasion. The gap exists for a quirky reason: States with sales taxes always have a "use tax" on items residents buy from out-of-state vendors. But a 1992 Supreme Court decision affirmed that out-of-state vendors don't have to collect the tax. It's up to taxpayers to track what they owe, but most don't, says the Journal.
Many states warn against leaving the line blank, however, and include a table of "suggested" contributions by income level:
* In New York, the suggested contribution for a return showing $200,000 of adjusted gross income is $78.
* Items costing more than $1,000 are supposed to be handled separately.
Honest souls who want to figure out what they owe will find it tough, because of a patchwork of current practices, says the Journal. Scott Peterson, executive director of the Streamlined Sales Tax initiative, used credit card statements to work out what he owed for 2009: "I made a spreadsheet," he says, "so figuring it out only took about four hours."
Source: Laura Saunders, "The Sales Tax That Comes Back to Bite," Wall Street Journal, March 27, 2010.
For text:
http://online.wsj.comarticleSB10001424052748704211704575139833572294198.html?mod=WSJ_PersonalFinance_PF4 |
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