Monday, December 7, 2009

The new state sales tax in alcohol sold in stores is working

From the Boston Business Journal: “The DOR said a decision earlier this year to increase the state’s sales tax rate to 6.25 percent from 5 percent and the elimination of a sales-tax exemption for alcohol sales contributed to around $88 million in new tax revenue in November. Without those changes, November’s total tax collections would have fallen by around 4.5 percent on a year over year basis, according to figures reported by the DOR.”



So the bad revenue news would have been worse without the new alcohol tax and increased sales tax. Despite the obvious need for funds to buttress badly needed services, the package store owners continue with their campaign to repeal the measure. They gathered enough signatures to move forward toward the November 2010 ballot.

No comments:

Post a Comment