Cities and counties will trade half their sales tax
revenue to the state every year for an equal amount of property tax receipts, officials said.
companies conducting business in multiple states are now spending, on average, $106,000 annually on state sales tax
audit, compliance and assessment costs, while 82% of all multistate businesses reported being audited at least once in the past year.
The `A' rating for the series 2007 bonds reflects Cleburne's solid sales tax
revenue growth, adequate legal provisions, and slow principal amortization.
Under Assembly Bill 1221, cities and counties would trade half of their sales tax
revenue to the state every year for a larger share of property tax receipts in an effort to encourage cities to diversify their tax base with more homes, offices and industrial developments.
Retailers with Internet sites only (clicks) are charging sales tax
only when an item is shipped to their home state or a state in which they have a warehouse or other property.
A sales tax
is collected on the sale of personal property and some services in most states, similarly to the Canadian Goods and Services Tax and the European value-added tax (VAT).
The owners of a small take-out deli were exempt from sales taxes
because there is no sales tax
on food that can't be consumed on the premises.
If we have to pay sales tax
on breast implants, we will have to pass it along to the patient,'' said Pamela Dipasquale, office manager for a Redlands plastic surgeon who figured a breast implant levy would cost her office about $10,000 a year.
The SSTP is a project now consisting of 39 states that are working to harmonize sales tax
rules and recording taxing the transaction.
The present moratorium on sales tax
on online sales is scheduled to expire on October 21 of this year.
Some vendors claim it's unfair for local businesses to have to compete with Internet businesses that don't collect sales tax
, but others say that shipping charges for online purchases level the field.
The key features of a streamlined sales tax