Save those holiday receipts because you might be able to deduct them on your federal income tax return – but it might be for the last time. The tax reform bill currently in Congress would eliminate the sales tax deduction, along with the state and local income tax deduction.
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Are Sales Tax Holidays A Good Thing?
Are sales tax holidays a good thing? Some argue that they’re money-savers but the Tax Foundation says different, claiming they are “political gimmicks” which promote bad tax policy.
Read MoreMassachusetts Gives Up On New Internet Sales Tax Rule Before It Even Takes Effect
Just days before Massachusetts was set to enforce a new revenue directive, the Commonwealth has changed course. Directive 17-1 which sought to impose the collection of sales tax on certain out-of-state businesses has been revoked.
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Court Upholds Philly Soda Tax As More Cities Grow Sweet On The Idea
The soda tax will live another day. An appeals court has upheld a lower court decision that Philadelphia’s tax on sweetened beverages is legal.
Read MoreMassachusetts Sued Before New Internet Sales Tax Rules Take Effect
With just over two weeks before a new regulation in Massachusetts was scheduled to begin, the measure has hit a roadblock. NetChoice and American Catalog Mailers Association have filed suit to stop the regulation requiring out-of-state online retailers to collect sales taxes from going into effect.
Read MoreMassachusetts Tries New Bite At Sales Tax Revenue By Focusing On Internet Cookies
With internet sales now the norm, states are looking for ways to get a bite at more tax revenue. Under a new revenue directive, Massachusetts will impose sales tax on out-of-state businesses who use internet cookies.
Read MoreCourt Nixes Coffee Sales Tax Suit Against Dunkin' Donuts
A group of coffee drinkers in New York with a sales tax matter to grind had their efforts thwarted this week when the Second Circuit ruled that they could not litigate a proposed class action in federal court.
Read MoreMany States Offering Sales Tax Holidays For 2017
Sales tax holidays are back for 2017. In addition to school supplies, sales tax holidays may apply to hurricane preparedness and energy efficiency – some starting as early as this weekend.
Read MoreCalifornia Considers Taxing Companies To The Moon (And Back)
California has long been considered fairly aggressive when it comes to how far they’re willing to go to impose taxes – now, the state may literally be reaching for the stars. The state has introduced a proposal that would make it the first state to tax commercial space transportation companies.
Read MoreStates Are High On Tax Revenues But Feds Still Say No To Marijuana
It’s 4/20, sometimes called National Weed Day. The possession of marijuana is prohibited by federal law even though a number of states have laws to the contrary – and are making money off of the once-forbidden drug.
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