“Equalizing” Since 1879!
A bit of Holiday Season cheer from the California State Board of Equalization:
Sales and Use Tax Rate Will Increase on January 1, 2013
Due to voter approval of Proposition 30, the statewide sales and use tax rate will increase one quarter of one percent (0.25%) on January 1, 2013. The higher tax rate will apply for four years — January 1, 2013 through December 31, 2016.
For more information on this increase, please visit our tax rate increase webpage:
http://www.boe.ca.gov/rateincrease/
For a listing of tax rates, please visit our California City & County Sales & Use Tax Rates webpage:
http://www.boe.ca.gov/sutax/pam71.htm
In addition to the statewide sales and use tax rate increase, voters in some cities and counties approved a number of new or increased district taxes that will go into effect April 1, 2013. These new or increased district taxes will be sent to taxpayers in a separate notice.
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And, NO SURPRISE HERE: economists believe that the drag (tax) on economic activity will SLOW economic activity and will SLOW the economic recovery.
Anyone want to bet that the “temporary” tax increase won’t be temporary after all?