Tax & Accounting Blog

California’s New Lumber Tax

Indirect Tax, ONESOURCE, Sales and Use Tax October 12, 2012

Humboldt County timber experts say that the new one percent sales tax on lumber products will be beneficial for area timber producers and environmental groups. Some retailers were caught off guard by the new tax. ”Boy, did they slip that on through,” said Eric Almquist, owner of Almquist Lumber in Arcata. “I get industry newsletters, and I haven’t seen anything on it.” The lumber tax bill, AB 1492, forces retailers to charge an additional 1 percent tax on lumber products sold in California. The tax is projected to raise $30 million in revenue annually for regulatory oversight. $1.5 million of which, will go to the Fish and Games’ timber harvest review program. The bill also limits a landowner’s liability for legal damages that results from wildfires on their property.

 

Read More: http://www.times-standard.com/localnews/ci_21506812/how-new-lumber-tax-might-affect-humboldt-local

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