All in favor of an additional sales tax on coupons say I. Just what I suspected, epic fail. But if Govenor Dannel Malloy gets his way, that's exactly what Connecticut residents will face.
"Devotees of coupons and discounts are angry at Gov. Dannel P. Malloy's proposal to slap a new sales tax on the original price of a good or service rather than the discounted price." The governor wants you to pay taxes on the list price, NOT the sale price.
"Ending the sales tax exemptions for coupons, discounts and automobile trade-ins are among tax exemptions Malloy has proposed ending to help close the state's projected $3.5 billion deficit. For example, the tax would be imposed on the $30 price of a blouse, not the $15 sales price."
That means if you get 35% off a $299 video card, he wants you to pay sales tax on the original amount, not the price you paid.
Most States are on the verge of Bankruptcy with the prospect of Federal funds no longer possible as the Federal Government isn't in much better shape. Hence we are seeing a wide array suggested solutions all of which put the burden on us.
I suspect this would drive more Connecticut residents to the Internet which would be a good thing for us. But with all municpal budgets stretched, an all-out Internet VAT (value-added tax) can't be far away.
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Image: TheDocsIn.net
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