Tax & Accounting Blog

A Study Questions the True Benefit of Sales Tax Holidays

A Study Questions the True Benefit of Sales Tax Holidays

Sales tax holidays are normally viewed as a boom for retailers, but even industry advocates are conceding that this year’s tax holidays may be the toughest yet for small store owners. Some economists and tax policy experts agree that sales tax holidays do not significantly increase consumer purchasing. Instead, the highly-publicized events just mean customers postpone … Read More

Maryland’s Sales Tax Holiday is Back

Maryland’s Sales Tax Holiday is Back

Beginning 12 August 2012, select items of clothing and pairs of shoes costing $100 or less will be exempt from Maryland’s 6 percent sales tax. The items will remain exempt through 18 August 2012.  The 3-year-old measure is intended to coincide with back to school shoppers preparing for next school year.   http://www.somdnews.com/article/20120810/NEWS/708109703/1075/sales-tax-holiday-returns-next-week&template=southernMarylandRead More

Georgia Transportation Tax Majorly Defeated

Georgia Transportation Tax Majorly Defeated

 Despite having the support of the Governor, Atlanta Mayor, and both chambers of commerce, the long proposed Transportation Special Purpose Local Option Sales Tax (T-SPLOST) was heavily rejected by all but three of the twelve specialty regions in a primary election.  In those three regions, residents will see an increase in their tax rates to … Read More