Old Project Avalon Forum (ARCHIVE) - View Single Post - Cities and States Plan Strange New Taxes on Pretty Much Everything

peaceandlove · 03-10-2010, 03:27 PM

U.S. Sales Tax Rates Hit Record High

by William P. Barrett
Monday, March 8, 2010
provided by Forbes

Shopping blues: Top tax 12%. Chicago's 10.25% highest big-city rate. More Internet tax fights loom.

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%.

Continues: http://finance.yahoo.com/taxes/artic...it-record-high

03-10-2010, 03:27 PM	#17
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: Cities and States Plan Strange New Taxes on Pretty Much Everything U.S. Sales Tax Rates Hit Record High by William P. Barrett Monday, March 8, 2010 provided by Forbes Shopping blues: Top tax 12%. Chicago's 10.25% highest big-city rate. More Internet tax fights loom. 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%. Continues: http://finance.yahoo.com/taxes/artic...it-record-high