Welcome to Sales Taxes Guide
Sales Taxes In Virginia Beach Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
Variation in Sales Taxes in the United States
from:All but six states in the United States—Alaska, Delaware, Hawaii, Montana, New Hampshire, and Oregon—levy sales taxes in the United States on purchases. The amounts each state charges vary with some states even having a local sales tax in addition to a state sales tax. In some states the addition of the local tax can make the tax extremely high such as in New York State where the sales tax is only four per cent statewide, but in New York City, the combined tax is 8.375 per cent.
In addition to the percentages that the states charge, another difference lies in what is subject to sales tax. In some states sales taxes in the United States include everything you purchase, while others exempt medicines and non-prepared food items. In Pennsylvania, clothing and most footwear are also exempt from sales tax in the United States. Once considered a fairer system than that of the state income tax because those who were lower income and bought less paid according to their income level (meaning that they only bought what they could afford) many states now charge both sales tax in the United States and a state income tax. Delaware has attempted on several occasions to pass sales tax legislation, but the bills have been defeated because of the state income tax.
The problem that exists, however, with sales tax in the United States is that although this tax along with state income tax is a deduction from your Federal Income tax, only those who itemize deductions can take advantage of it. Thus, unless you are a homeowner still paying on a home, you will not have enough deductions to itemize since you need to have deductions that exceed your standard deduction in order to itemize. For example, if you are married filing jointly, your standard deduction is $10,300, so you must have itemized deduction higher than that in order to claim those deductions. Thus, in reality, sales taxes in the United States are not balanced taxes since many lower income people must pay it with no opportunity for a refund, especially in states where everything is taxed.
What is the answer to the sales tax dilemma in the United States? Should the states eliminate sales taxes in the United States and deal strictly with a state income tax or vice versa? Maybe there should be a special credit on the Federal return that people can claim whether they itemize or not. Of course, that will not help those with no taxable income, but there is no provision that will be equitable for everyone unless we eliminate both taxes, which will leave the states insolvent.
Sales Taxes In Virginia Beach Specific Links
Sales Taxes In Virginia Beach News
Liberty Tax Advises that There's Still Time to Cut Your 2008 Tax ... - MarketWatch
Liberty Tax Advises that There's Still Time to Cut Your 2008 Tax ... MarketWatch - VIRGINIA BEACH, Va., Dec 01, 2008 (BUSINESS WIRE) -- The tax savings you reap in 2009 will depend on any additional tax cutting measures that you can take ... |
Virginia Beach officials out of touch with fiscal reality - The Virginian-Pilot
Virginia Beach officials out of touch with fiscal reality The Virginian-Pilot, VA - Why not refund sales taxes, too? This is a bad precedent, especially at a time when the city will be forced to make tough budget decisions, to either take a ... |
Va. Beach economy too weak for Town Center risk - The Virginian-Pilot
Va. Beach economy too weak for Town Center risk The Virginian-Pilot, VA - Nearly 1000 Virginia Beach homes are in some level of foreclosure. Property values have dropped - for homes and cars. Business and sales tax revenues have ... |
‘Shop Locally’ Takes on New Importance - Lynchburg News and Advance
‘Shop Locally’ Takes on New Importance Lynchburg News and Advance, VA - The state returns a portion of the sales tax revenue generated locally to the local governments for the primary purpose of supporting public schools. ... |
Virginia Beach facing shortfall of at least $22 million - The Virginian-Pilot
Virginia Beach facing shortfall of at least $22 million The Virginian-Pilot, VA - In August, Jerry Banagan, the Beach's real estate assessor, predicted the tax base would be flat after years of skyrocketing assessments. But home sale ... |