Tax & Accounting Blog

Sales Tax Burden Remains Flat for U.S. Consumers and Businesses in Q3 2014

Blog, Indirect Tax, ONESOURCE, Sales and Use Tax, Sales Tax Calculation November 14, 2014

TR2NEW YORK, November 10, 2014 – The U.S. sales tax burden remained unchanged, while the number of indirect tax changes declined in the third quarter of 2014, according to the latest ONESOURCE Indirect Tax rate report from Thomson Reuters.

Thomson Reuters quarterly ONESOURCE Indirect Tax rate report summarizes changes in sales, use and value added taxes. In Q3 2014, state rates remained at an average 5.457 percent for the fourth straight quarter, allowing the overall average burden to experience a negligible .003 rise to 8.470 in Q3 2014. In addition, there were 176 U.S. tax code changes made, down from 199 changes in Q2 2014, the third straight declining quarter of tax changes. Read the press release here.