As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers... Read More »
Articles in category 'State Taxes'
Maryland to Increase Taxes on “Rich” Residents Earning More than $100K Per Year?
Tax Policy Blog reports that the Maryland legislature is considering whether to pass a law that would raise tax rates on wealthy individuals. And what is considered wealthy in Maryland? $100,000.00 of annual income: Maryland’s tax special session began today; expect more analysis on it from us tomorrow. However, we just received detail on S.B.…
Read Full Article Categorized in: State Taxes, Tax PolicyOklahoma Republicans Want to Abolish the State Income Tax
The AP’s Sean Murphy reports that Oklahoma Republicans want to abolish their state income tax: A year after Republicans swept into office across the country, many have trained their sights on what has long been a fiscal conservative’s dream: the steep reduction or even outright elimination of state income taxes. The idea has circulated among academics…
Read Full Article Categorized in: State TaxesLow Tax, Non-Union Red States Outperform High Tax, Union Blue States
Don’t tell the propagandists of the pro-tax, pro-union, pro-big government crowd this but the red states (you know, the ones with all of those toothless conservative rednecks in them), and their low tax, pro-business policies regularly out-perform the blue states and their high tax, pro-union policies. John Hinderaker of PowerLine has the story (emphasis added): Today, we have…
Read Full Article Categorized in: News, State Taxes, The EconomyColoradans Say No to Tax Increases
Joseph Henchman of Tax Policy Blog reports in Colorado Voters Reject Income and Sales Tax Increase: Colorado voters yesterday rejected Proposition 103, which would have raised $2.9 billion between 2012 and 2016 by raising the state income tax from 4.63% to 5% and the state sales tax from 2.9% to 3% for five years. 36.3% voted…
Read Full Article Categorized in: State TaxesState Taxpayers, Johns, Guilty Until Proven Innocent
Several months ago vice squads in West Palm Beach, Florida began the practice of giving local beat reporters the names and mugshots of men who had been arrested for allegedly soliciting prostitutes. I believed then, and still do, that in a country that declares a man to be innocent until proven guilty, the practice is illegal.¹ The reporters, of course, maintain that they have…
Read Full Article Categorized in: Legislative Watch, News, Opinion, State Taxes, Taxpayer RightsHouse Trying to Stop State Taxing Authorities from Overreaching
We’ve reported here that many states are trying to use their long arms to tax previously untaxable out of state Internet sales. Joseph Henchman of Tax Policy Blog reports that the House of Representatives is trying to prevent that: The House Judiciary Committee today approved the Business Activity Tax Simplification Act (BATSA) on a bipartisan…
Read Full Article Categorized in: Legislative Watch, State TaxesWhere Your Tax Money Goes: Ohio Toll Collector Paid $103,150
“Today, Ohio has the 7th highest state and local combined tax burden in the nation with taxes consuming 10.4 percent of the state’s income.” – Scott Hodge, Tax Policy Blog – Jim Fedako of the Mises Institute writes about what he calls the Exploitation Theory in Reverse: According to the Buckeye Institute, the highest paid Ohio Turnpike…
Read Full Article Categorized in: State TaxesTax Shocker of the Week: Tax Increases Drive Jobs Away in Illinois
File this one under the category “Ya think?” Joseph Henchman of Tax Policy Blog writes in Illinois Legislators Hint that Tax Increases are Driving Away Jobs: In January, Illinois legislators approved raising their individual income tax rate from 3% to 5%, and raised the corporate income tax rate from 7.3% to 9.5%, retroactive to January…
Read Full Article Categorized in: State Taxes, Tax PolicyTax on Computer Downloads
CPA Tonya Moreno writes that more states are charging sales tax on digital downloads to pump up state revenue. On July 1, 2010 Wyoming became the latest state to begin charging 4% sales tax on digital downloads held for permanent use. And they’re just one of many states that tax downloads. New Jersey was the…
Read Full Article Categorized in: State TaxesLow Tax Red State Schools Outperform High Tax Blue State Schools
Walter Russell Mead writing for American Interest says that red state schools regularly outperform blue state schools. This is classiker than a Ford Model T: When it come to excellence in education, red states rule — at least according to a panel of experts assembled by Tina Brown’s Newsweek. Using a set of indicators ranging…
Read Full Article Categorized in: Legislative Watch, News, State TaxesCalifornia Leaving
Mark Perry of Carpe Diem reports that California businessmen are fleeing the state in droves: California currently ranks #49 among U.S. states for “business tax climate” (Tax Foundation) and #48 for for “economic freedom” (Mercatus). It shouldn’t be any surprise then that companies are leaving the “Golden State” in record numbers this year (see chart above)…
Read Full Article Categorized in: News, State Taxes, The EconomyState Taxation of Internet Sales. Is it Coming?
The Associated Press reports that struggling states are again making noises about taxing online sales: State governments across the country are laying off teachers, closing public libraries and parks, and reducing health care services, but there is one place they could get $23 billion if they could only agree how to do it: Internet retailers…
Read Full Article Categorized in: State TaxesFlorida Increases Corporate Tax Exemption: Will it Create Jobs?
Joseph Henchman reports in Florida Increases Corporate Income Tax Exemptions, Debates Repeal: Florida’s government has a $69 billion annual budget, and about $2 billion of that comes from the state corporate income tax. Enacted in 1971, that tax currently stands at a rate of 5.5 percent. Governor Rick Scott (R) took office this year and has…
Read Full Article Categorized in: State Taxes, Tax Policy, The EconomyLap Dances Not Art, Subject to NY Sales Tax
From Paul Caron by way of the Albany Times-Union tells us that the New York Supreme Court has ruled that Lap Dances Aren’t Tax-Exempt: While a lap dance might prompt a strong reaction from an audience, it doesn’t rise to the level of art — at least according to a state appellate court. Thursday’s ruling said entertainers at a local…
Read Full Article Categorized in: News, State TaxesTaxless Texas Leads Country in New Jobs Since Recession
The Wall Street Journal reports that 37% of all net new American jobs since the recovery began were created in Texas and explains why (emphasis added): What explains this Lone Star success? Texas is a big state, but its population of 24.7 million isn’t that much bigger than the Empire State, about 19.5 million. California…
Read Full Article Categorized in: State Taxes, The Economy