California Chamber of Commerce’s Post

Lawmakers in GOP-led Nebraska debate bill to raise sales tax! Nebraska lawmakers are debating a bill that would #raise the state’s #sales tax by 1 cent to 6.5% on every taxable dollar spent — which would make it among the highest in the #country. Lawmakers expected to take a vote later Tuesday on whether to advance the bill to a second of three rounds of #debate in #Nebraska's unique one-chamber #legislature. In addition to raising the state's current 5.5% sales tax and expanding it to include more #services — such as advertising costs — it would add new taxes to candy and soda pop and would tax hemp and #CBD products at 100%. “On average, the 5% of Nebraskans with incomes over $252,600 will pay less as a result of the changes, while for 8 in 10 Nebraskans, the sales tax #increase will on average be greater than any property tax cut they may receive,” #taxation watchdog group Open Sky Policy #Institute said. This year’s legislative session is set to end by April 18. Pillen had previously promised to called lawmakers back for a special #session if property tax relief #efforts fail to pass. https://lnkd.in/gtdRb5ST

Position your law firm now for lower taxes! Here's an important reminder from 4LegalLeads.com as you close out the year and prepare for the holidays. Deciding how to allocate the end of the year budget? Funding big NOW can REDUCE YOUR TAXES for 2023! REDUCE TAXABLE NET INCOME for 2023 by prepaying for next year's Web Leads and Prequalified Live Calls now! Funding big now, with the intention to access more Exclusive, Real-Time Leads & Prequalified Calls in the new year, is a double win: tax write-off for 2023 and new clients for your firm in 2024! Remember, 4LegalLeads.com guarantees prorated refunds of your account balance so you can fund big with confidence! Even More Benefits?! Funding at higher levels earns significantly higher Funding Bonuses. In fact, you could earn up to a 7% Funding Bonus! Plus, if you set up Auto-Funding (optional), you'll receive an additional 2% Funding Bonus every time your account is auto-funded! And Don't Forget... Funding your 4LegalLeads.com account can also earn you bonus points with most business credit cards under the "Online Advertising" merchant account category. Fund Big Today! Login to your account now and check out our Funding Bonuses at https://bit.ly/47Xj3RV #lawyers #attorney #legalmarketing #americanbarassociation #lawfirm #4legalleads

When you're listing out wins for small business from this legislative session, here are five bills that could make owners' life easier, according to the Simplify Colorado Sales Tax coalition: https://lnkd.in/gP54TtbK

🚨 February 2024 State Tax Updates: Monthly Review! 🚨 📜 PROPOSED EXEMPTIONS ALERT: • Diapers/Baby Products may soon be tax-exempt in Mississippi (MS) and Georgia (GA). • Feminine Hygiene Products could be exempt in Alabama (AL). • Food might see exemptions in Mississippi, Missouri (local taxes specifically called out), Oklahoma, and Tennessee, with local taxes specifically called out. 🎤 MISSOURI MUSIC VENUES: Upcoming regulations may mean venues will handle sales tax collection for performances. 📊 MAINE LEASE TAX: Those involved with leases in Maine (ME), watch out for possible adjustments to how tax is managed, potentially aligning with other states. Contact us if this applies to you and you want further details. 📅 TEXAS TAX HOLIDAY: Texans, get ready for tax breaks on emergency supplies from April 27-29. 💰 TAX RATE SHIFTS: • Alabama is considering a raise in the SSUT rate to 9.25%. • Connecticut may decrease the state tax rate by 0.35%. 🔄 COLORADO FILING UPDATE: Colorado is proposing a change to filing frequency – a move from monthly to quarterly that could ease compliance burdens. #StateTaxUpdates #TaxExemptions #SalesTax #TaxSeason

Governor Gavin Newsom finalized the 2023 legislative session on October 14th and vetoed some important bills citing common themes including unnecessary, past policy, or budgeting concerns. While many were approved, roughly one in five bills that reached the Governor’s desk were vetoed this year. In addition, five new bills were submitted by the Legislature and signed into law by the Governor pertaining to transaction and use taxes (district taxes) in various locations throughout the state. While the authorizing agency under each bill is either a special district or a county, the impacts of these new laws could affect future sales tax rates for cities within these counties. ⚖ AB 1052 Sacramento Regional Transit District ⚖ AB 1256 County of Humboldt ⚖ AB 1385 Riverside County Transportation Commission ⚖ AB 1679 County of Los Angeles ⚖ SB 335 County of Santa Clara Learn more about Transactions & Use Tax https://lnkd.in/gVXHxwFt Read the final CA Legislation Update for 2023 https://lnkd.in/gdwNf_af #legislation #localgov #california #salestax #usetax #cannabiscompliance #propertytax #businesslicense #lodging #utilityusers

Tuesday Trend! According to the IRS, individual tax filings are rolling in at a very good clip in these first several weeks of the season. 44.5M returns were received as of Feb 23, which is down slightly over the same period a year ago, but those returns have been achieved in fewer days (26 vs 33). Good job, tax payers! Way to stay on the ball. Of course, one of the benefits of filing on the early side of the season is potentially quicker processing of your refund. Based on Google Trends, searches for "refund check status" are most prevalent among the earlier filers - they peak within the 12-20 day post-filing window of the earliest filers, and then drop off around now, 7-8 weeks into the season. Lots of advice exists for those seeking options for their refunded dollars. Put it in a savings account! Pay down debt! Should you even be happy about getting a refund in the first place? Watch this space for more observations about how financial consumers are trying to put their money to work.

“Lawmakers must understand that they cannot resolve the unfairness of sales taxes simply by offering a short break from paying these taxes.” - Marco Guzman from Institute on Taxation and Economic Policy. This week, Connecticut is having its sales tax holiday, but a break does not address the disproportionate burden on working and middle-class residents within the state's current tax system. That's why we're focused on comprehensive tax reform: because a fair tax system is good for families and the economy. Read the article by Connecticut Mirror here: https://bit.ly/45qfUc7

𝗗𝗶𝗱 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗪𝗶𝘀𝗰𝗼𝗻𝘀𝗶𝗻 𝗧𝗮𝘅 𝗕𝘂𝗹𝗹𝗲𝘁𝗶𝗻 (𝗪𝗧𝗕) 𝗶𝘀 𝗮 𝘁𝗿𝗲𝗮𝘀𝘂𝗿𝗲 𝘁𝗿𝗼𝘃𝗲 𝗼𝗳 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝘁𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀 𝗮𝗻𝗱 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀 𝗮𝗹𝗶𝗸𝗲? 📰 Published quarterly by the Department of Revenue, the WTB covers a wide range of topics related to taxes administered by the department. From income to corporation franchise, sales and use, excise tax, and withholding taxes, it's a comprehensive resource for staying informed. Each issue is neatly organized into sections: 📝 Articles - Dive into tax laws, administrative rules, and return filing requirements. 🔍 Report on Litigation - Get summaries of Wisconsin tax cases decided by the Tax Appeals Commission and courts. 💡 Tax Releases - Explore interpretations of Wisconsin tax laws. 📄 Private Letter Rulings - Understand how Wisconsin tax laws apply to specific taxpayer scenarios. Stay informed, stay ahead! #TaxTips #WisconsinTaxBulletin 🧾💼 Read the Latest Issue ⬇️

Some aspects of sales tax never seem to change - The taxability of digital advertising and marketing is not among those. Digital advertising especially is a hot new area of sales tax as states consider how to tap into this burgeoning stream of potential revenue. Here’s a look at some of the latest developments: https://hubz.li/Q02t14zf0