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The Federal Tax Code: A Theme Park for Congress Tax

For years, I went to the grocery store with a blue plastic envelope full of coupons — 50 cents off, buy-one-get-one-free — just as my mother did. She still does. I eventually decided it wasn’t worth it, though I still rejoice silently when displaying a supermarket loyalty card saves me 50 cents on a jar of tomato sauce.

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URL: https://taxfoundation.org/federal-tax-code-theme-park-congress

Californians Get New Tax Credit for First-Time Crib

Local industry Crib Credit supporters have cut deals with retailers to send home buyers “5% off purchase of $5,000!” coupons starting May 1. The actual cost of the Crib Credit will not be known for more than ten years, but the state hopes to turn a short run profit through taxes and fees. These include real estate transfer taxes, property

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2020 Sales Tax Holiday (Sales Tax-Free Weekend) Tax

In 2020, 16 states will conduct sales tax holidays, down from a peak of 19 in 2010 and unchanged since last year (see Table 1). In its 2021 budget bill, Tennessee established a second 2020 sales tax holiday, to be aimed at restaurants. At first glance, sales tax holidays seem like great policy.

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2019 Sales Tax Holidays Back-To-School Tax-Free Weekends

In 2019, 15 states will hold clothing sales tax holidays, 11 states will have school supplies sales tax holidays, six states will have computer sales tax holidays, and four states will have Energy Star products sales tax holidays. [4] Altogether, 16 states will conduct a holiday, three fewer than in 2010.

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The Complicated Nature of the Deductibility of Drug

In the heat of a tough reelection campaign, Sen. Claire McCaskill (D-MO) has made health care a key issue.While the president recently released a series of policy proposals for lowering prescription drug costs, the Missouri Democrat is pitching a different idea: ending the deductibility of advertising expenses for drug companies.While there are policy arguments against direct-to …

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Nebraska Pushing States to Tax "Full Value" of Groupon and

Nebraska Pushing States to Tax “Full Value” of Groupon and LivingSocial Deals. July 19, 2012. Joseph Bishop-Henchman. Joseph Bishop-Henchman. For most transactions, calculating sales tax is simple: multiply what the consumer paid by the tax rate. This morning, I paid $3 for a donut and milk, and since the DC tax on meals is 10 percent, I

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Sales Taxes on Soda, Candy, and Other Groceries, 2018

For instance, a supermarket might wonder how to code rotisserie chicken, a “prepared food” (usually taxable) but one that is “intended for consumption off-site” (usually not taxable). In many states with a grocery sales tax exemption, rotisserie chicken is taxable if heated by a warming device but exempt if it is cooled, packaged, and

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Tax Foundation

coupons, checks, or bills of exchange for or in payment of any dividends upon the stock or interest upon the obligations of foreign corporations, associations, and insurance companies off within the year Amount representing a reasonable allowance for the exhaustion, wear, and tear of property

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Key Findings

United States Department of Agriculture food coupons” is exempt from the state’s sales and use tax.4 Meanwhile, other states categorize sales tax status based primarily on who the vendor is or where that is “intended for consumption off-site” (usually not taxable). In many states with a grocery sales

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FISCAL FACT

control more than one off-premise liquor license, and so New York has no liquor store chains. Loosening the restrictions on who may sell wine should increase competition and therefore reduce wine prices for consumers, in addition to generating (in the governor's estimation) $54 …

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Sales Tax Holidays: Politically Expedient but Poor Tax

Download Special Report No. 201: Sales Tax Holidays: Politically Expedient but Poor Tax Policy This is an old study. See an updated report here. Note: After press time, Massachusetts enacted a sales tax holiday, bringing the total number of states with holidays in 2012 to 18. Key Findings 17 states will hold a sales tax …

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New York Governor David Paterson's Tax and Fee Proposals a

That is, take the discount off, then apply tax to the price as discounted. Paterson’s reform moves in the opposite direction, applying tax to the pre-discount price for all coupon purchases. One likely result will be to encourage retailers to offer discounts in forms other than coupons, to gain more favorable tax treatment; it could also make

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Sales Tax Holidays: Politically Expedient but Poor Tax

In 2017, 16 states will conduct sales tax holidays, down from a peak of 19 states in 2010 (see Table 1). Georgia is the latest state to drop its holiday, after policymakers concluded that it did not spur additional economic activity. They follow Massachusetts in 2016, which dropped its holiday out of revenue concerns.

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Sales Tax Holidays: Politically Expedient but Poor Tax

Download SPECIAL REPORT No. 233: Sales Tax Holidays: Politically Expedient but Poor Tax Policy 2016 (PDF) Key Findings 17 states, primarily in the southeastern U.S., will hold a sales tax holiday in 2016, down from a peak of 19 states in 2010. Sales tax holidays do not promote economic growth or significantly increase consumer purchases; …

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Mississippi Lawmakers Consider Firearm Sales Tax Holiday

The Mississippi House of Representatives is considering a bill that would create a new state sales tax holiday for firearms, ammunition, and other hunting equipment, similar to a firearm holiday in neighboring Louisiana. The bill cleared the House Ways and Means Committee last Tuesday. Dubbed the “Annual Mississippi Second Amendment Weekend Holiday,” HB 1539 would …

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2018 Sales Tax Holidays: Politically Expedient but Poor

Table 1: 2018 Sales Tax Holidays and Price Caps. Note: Louisiana’s May sales tax holiday reduced the state sales tax rate from 5 percent to 3 percent, but retained local sales taxes. In June 2018, the state legislature changed the sales tax rate, which was scheduled to …

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Sales Tax Holidays: Politically Expedient but Poor Tax

As of press time, the House had approved an August 16-17 holiday and the Senate had approved an August 9-10 holiday, but a final bill had not been enacted. (a) Air conditioners up to $6,000; refrigerators up to $2,000; other Energy Star products no cap. …

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