The New York State Association of Counties is concerned
about sales tax revenue reports indicating negative growth in the second quarter.
At a recent Finance and Management Committee meeting I asked the county's deputy budget director
about our sales tax revenue.
Not exact matches
The latest figures on
tax revenues from the Colorado Department of
Revenue hit a new high in the month of August, with recreational
sales totaling
about $ 34.1 million, compared to $ 29.3 million the previous month.
But, as seen in the Figure above, because income
taxes have been cut, the province's reliance on income
tax revenues have dropped by one third over the last decade, so much so that income
taxes now raise
about the same amount as
sales taxes.
Albertans need to have a serious conversation
about revenue and taxation, including the potential introduction of a provincial
sales tax.
With
sales tax revenues stagnating at between $ 700,000 and $ 750,000, officials in Cary have been concerned
about ways to build new
revenues.
Buffalo Grove expects to gain
about $ 150,000 in annual
sales tax revenue that Lake County had been getting.
In exchange, the Oneidas will give 25 percent of its casino's net
revenue to the state, agree to a permanent cap of
about 25,000 acres of land, and apply
sales tax on cigarettes and gasoline.
The measure itself means
about $ 12 million
revenue for the state, but the repeal of the
sales tax was considered as part of the state budget approved in April.
But, county officials say they need the one percent
sales tax exemption ASAP or the county will lose
about $ 5 million in
revenue.
Mahoney believes more visitors for a longer time means more
sales tax dollars, which account for
about two - thirds of the
revenue in the Onondaga County budget.
Think
about the county - wide impact of driving business away from the mall, which produces 23 percent of our
sales tax revenue.
Mychajliw projects
sales tax revenue will be down
about $ 13 million this year because of lower gas prices.
Rochester Supervisor Carl Chipman, chairman of the county association of towns, villages and the city, says his group has begun to talk
about petitioning the county for a greater share of
sales -
tax revenue.
The property
tax accounts for
about 40 percent of the city's
revenue each year, twice as much as the personal income
tax (
about 20 percent) or
sales tax (roughly 14 percent).
Sales taxes make up
about 40 percent of general fund net
revenue for the county; while property
taxes produced only 20 percent in 2014.
In doing so, he taps the fund balance for only
about $ 10 million, while penciling in a modest 2.5 percent increase in projected
sales -
tax revenues.
The Nevele developers say the project, if approved, will generate hundreds of jobs, translating into
about $ 100 million in local spending, increased hotel occupancy
tax revenues, increased
sales tax revenues and 10 percent of gaming
tax revenues going to the town of Wawarsing, the village of Ellenville and Ulster County.
Mahoney said she is worried
about potential anti-city sentiment ruling the day, in negotiations that create a formula to share
sales tax revenue between the county and local governments.
The two - month delay in Albany's approving the
sales -
tax extender cost the county some $ 5 million in
revenue according to Hein, and
about $ 3 million in
revenue according to the county comptroller.
Cahill set the stage last year, said his detractors, by holding up the 1 percent
sales tax extension for two months, thus, again according to detractors, chief among them County Executive Mike Hein, costing the county some $ 5.2 million and the City of Kingston
about $ 600,000 in
revenue.
Mr. Walter said Riverhead Town generates $ 25 million to $ 30 million in
sales tax revenue, but only received
about $ 1 million of it back from the county.
The Legislature also cut the city of Syracuse's
sales tax revenue by more than $ 10 million next year, but restored that money in subsequent years, keeping the city
about level over nine out of 10 years.
From there, they conspire to spread the bug around town, and soon the frazzled mayor is worried
about the loss of city
revenue (reduced smoking and drinking mean less
sales tax, you see).
Now I read that even if a piece is sold, the artist: 1) Isn't informed
about shipping addresses; 2) Isn't assured that they have or will be paid; 3) Is responsible for paying the buyer's
sales tax bill; 4) Presumably is required to forward
sales tax funds to the buyer's state department of
revenue; 5) Has money / time invested in shipping a parcel to a potential buyer who may or may not return the art a week later (like a toaster oven); 6) Has language like the following within their user agreement: royalty - free, sub-licensable through multiple tiers, perpetual, irrevocable, worldwide right and license to use, reproduce, distribute, modify, translate, create derivative works from, publish, publicly perform and publicly display such User Content and any names, likenesses or trademarks depicted in such User Content, in any media now known or later developed, only for the purposes of developing, promoting and providing the Site.»
According to the Seattle Times, the measure's lead sponsor, Rep. Mary Lou Dickerson, D - Seattle, estimates that legalization would generate
about $ 440 million in new
revenue every two years through cannabis
sales,
taxes and licensing fees.
The states, meanwhile, have been losing out on billions in
sales tax revenue over the years (one estimate cited in court papers suggests they'll lose
about $ 34 billion this year).
The move comes months after the US Internal
Revenue Service (IRS) released its initial guidance on
taxing bitcoin as a type of property, and provides an answer to a long - brewing question
about how state
sales taxes in the US may be applied to bitcoin transactions.