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Massachusetts has a 6.25% state sales tax on most goods (raised from 5% in 2009). There is no sales tax on food items, but prepared meals purchased in a restaurant are subject to a meal tax of 6.25% (in some towns voters chose to add a local 0.75% tax, raising the meal tax to 7%, with that incremental revenue coming back to the town).
For example, sales tax in Chicago (Cook County), IL is 10.25%, consisting of 6.25% state, 1.25% city, 1.75% county and 1% regional transportation authority. Chicago also has the Metropolitan Pier and Exposition Authority tax on food and beverage of 1% (which means eating out is taxed at 11.25%).
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
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There would be an additional 25% tariff on imports from Canada, with a lower 10% charge on the oil, natural gas, electricity and other energy products. Energy products were taxed at a lower level to prevent U.S. consumers and businesses from paying higher prices for gasoline and utilities. Mexican imports would face an additional 25% tax.
Trump announced 25% tariffs on goods from Canada and Mexico and a 10% tariff on China products. An ING report released Friday estimates the economic impact of tariffs could be about $835 per ...
(Trump also threatened 25% tariffs on Mexican and Canadian goods come February 1). Chinese goods are currently subject to a 100% tariff on electric vehicles and 25% tariff on steel and aluminum ...
Sales taxes are imposed by most states and some localities on the price at retail sale of many goods and some services. Sales tax rates vary widely among jurisdictions, from 0% to 16%, and may vary within a jurisdiction based on the particular goods or services taxed. Sales tax is collected by the seller at the time of sale, or remitted as use ...