Tax & Accounting Blog

Memphis Considers Increasing City Sales Tax

Indirect Tax, ONESOURCE, ONESOURCE Property Tax, Sales and Use Tax June 8, 2012

Memphis Mayor, A C Wharton, has said that he would push for a 0.5% sales tax increase to rebuild the reserve funds used to balance the budget for 2012-2013.  This announcement followed approving a  budget Tuesday, which features a decreased property tax rate. The decrease was made possible by city council members dipping into the reserve fund, making cuts to certain services and increasing the cost of health insurance for city employees.