Tax & Accounting Blog

California Sales and Use Tax will increase from 7.25% to 7.50%

Indirect Tax, ONESOURCE, Sales and Use Tax November 8, 2012

The Golden State voted in favor of Proposition 30 and agrees to increase sales tax for 4 years and income taxes on the wealthy by up to 3% for 7 years. With the victory of Prop 30 Gov. Jerry Brown projects to raise $6 billion annually for education.

Sales Tax will increase to 7.50% starting in January 1, 2013, through December 31, 2016. The last time California voters approved a tax increase on a statewide was in 2004. Proposition 63: Income Tax Increase for Mental Services.

Read More: