There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates.
Holiday hucksterism? State sales tax holidays fail to live up to the hype.
That’s the consensus of a recent report from the Institute on Taxation and Economic Policy, which notes that “so far this year 20 states have decided to forgo a combined $1 billion in vital tax revenue in favor of conveniently popular yet ultimately ineffective sales tax holidays.”
One of the biggest culprits in 2022: Florida, which expanded their sales tax holiday programs to five additional (“rather arbitrary”) categories in lieu of targeted, permanent reforms.
Source Taxconnex
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