Coming Soon ... 11.5% Sales Tax

[palani]

I expect this to be the norm for gooberment in the future. For all that you do this sales tax increase is FOR YOU!!!!

http://latino.foxnews.com/latino/money/2015/05/27/puerto-rican-legislators-narrowly-approve-raising-sales-tax-to-highest-level-in/



Legislators on Tuesday narrowly approved an increase in the U.S. territory's sales tax to help generate more revenue and offset a deep fiscal crisis.

Gov. Alejandro García Padilla is expected to sign the bill that would increase the tax from 7 percent to 11.5 percent, as well as create a new 4 percent tax on professional services. The sales tax increase would go into effect July 1 and the new tax on Oct. 1, with a transition to a value-added tax by April 1.

If approved, it would be the highest sales tax compared with any U.S. state.

It is estimated that the proposed increase could help generate $1.2 billion in revenue as Puerto Rico struggles through its eighth year of recession and faces a $72 billion public debt. Officials previously warned the government could shut down soon if emergency measures were not taken.

[Ponce]

For the past several HUNDRED years they have tried to pass a sales tax here in Oregon but every time the answer from the people is a FAT NO.

They tell you that is only for one, two, or so many years but we know that once the foot is in the door that that tax will last for ever and ever.

If they ever come out with a new idea to increase my property (private property) tax I then will stop paying it and will then wait for four years till they take me to court........ even in the US constitution, in two places, it say that you don't have to pay a tax on what ever you already own.. That's called a "direct tax".

[ximmy]

Oh good. We peasants have had it too good for too long...

[BrewTech]

Oh good. We peasants have had it too good for too long...I didn't read the article all the way through, but I'm pretty sure that applies in Porto Reeko, dollface... at least for now.

What's the sales tax in CA? 8.25%?

[Hitch]

Well, all this is going to do, is get even more people buying things online and off of craigslist.

This increase will really hurt small businesses, adding even more struggle to the increases in minimum wage. Big corp and big .gov seem to want to crush the little guy.

[ximmy]

I didn't read the article all the way through, but I'm pretty sure that applies in Porto Reeko, dollface... at least for now.

What's the sales tax in CA? 8.25%?

I think we pay the highest taxes in the country...

Personal income tax top 10 The biggest tax ticket citizens face after paying the Internal Revenue Service is the one their state presents. Forty-one states and the District of Columbia levy a personal income tax.
A comparison of 2014 tax rates compiled by the Federation of Tax Administrators ranks California as the top taxer with a 12.3 percent rate, unless you make more than $1 million and have to pay 13.3 percent.
Each of these states has a personal income tax floor, deductions, exemptions, credits and varying definitions of taxable income that determine what a citizen actually pays. The 10 highest income tax states on the FTA's 2012 list were:


California 13.3%
Hawaii 11.0%
Oregon 9.9%
Minnesota 9.85%
Iowa 8.98%
New Jersey 8.97%
Vermont 8.95%
District of Columbia 8.95%
New York 8.82%
Maine 7.95%


States With the Highest Sales TaxesTennessee came in as the state with the highest combined state and local sales tax rate with a top combined rate of 9.44%. After Tennessee, the states with the highest state and local sales tax rates are California (9.08%), Arizona (9.01%), Louisiana (8.69%), Washington (8.61%), New York (8.52%), Oklahoma (8.33%), Illinois (8.22%), Arkansas (8.10%) and Alabama (8.03%).


Major Cities with High Sales TaxesAlong with the state sales tax report, the Tax Foundation also studied sales tax rates in the 107 major U.S. cities with populations over 200,000. This study found that the cities with the highest combined state, county, and city sales taxes are Birmingham, AL (10%), Montgomery, AL (10%), Long Beach, CA (9.75%), Los Angeles, CA (9.75%), Oakland, CA (9.75%), Fremont, CA (9.75%), Chicago, IL (9.75%), Glendale, AZ (9.6%), Seattle, WA (9.5%) and San Francisco, CA (9.5%).

[midnight rambler]

It could be worse, some Latin American countries have a 16% VAT.

And along those lines there there are those in the states who think that a national sales tax (ostensibly to replace the Form 1040 sheep shearing lol) is the greatest idea EVER.

[palani]

It could be worse, some Latin American countries have a 16% VAT.

And along those lines there there are those in the states who think that a national sales tax (ostensibly to replace the Form 1040 sheep shearing lol) is the greatest idea EVER.

Government used to be fairly self-supporting with import duty.

[osoab]

Puerto Rico's financials make Detroit's financials look like AAA sound.

[Serpo]

http://cdn.mediaworks.co.nz/3news/Skins/2013/Weather/maps/Main_Map_National_Small.jpg

12%

[osoab]

http://cdn.mediaworks.co.nz/3news/Skins/2013/Weather/maps/Main_Map_National_Small.jpg

12%

And a VAT too?

[Serpo]

And a VAT too?

Thats the GST or VAT rate, it looks like we pay higher taxes on our pay in OZ and NZ


New Zealand's top personal tax rate is 33% for income over NZ$70,000. At the other end of the scale, the tax rate is 10.5% on income up to $14,000. For full details, see 'New Zealand tax at a glance' below.Jan 13, 2015

Resident Tax Rates 2014 - 2015/2016/2017

Taxable income

Tax on this income



$0 – $18,200

Nil



$18,201– $37,000

19c for each $1 over $18,200



$37,001 - $80,000

$3,572 plus 32.5c for each $1 over $37,000



$80,001 - $180,000

$17,547 plus 37c for each $1 over $80,000


$180,001 and over*

$54,547 plus 45c for every $1 over $180,000



*Note that an additional Temporary Budget Repair Levy of 2% is payable on incomes

http://www.exfin.com/australian-tax-rates